20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March 2025 exams.
Get your discount code >>

CTL upper limit and lower limit was also time proportionated

This topic has 1 reply, 2 voices, and was last updated 9 years ago by Tax Tutor.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
April 17, 2015 at 6:37 pm #241637
kashif
Member
- Topics: 3
- Replies: 0
respectfull sir i m facing problem in upper and lower limit used for CTL as i have learnd in kaplan book that it shod only be divided by the number of associate CO….
but when i was practecing kit i saw in question no 56 arable ltd that upper limit was divide by no of associate co and then also time proportionated for 9 month period…then that confused me….
April 18, 2015 at 12:02 pm #241697
Tax Tutor
Member
- Topics: 2
- Replies: 3965
The profit limits are reduced for both short accounting periods and associated companies – see OT course notes p.108.
We time apportion where the chargeable accounting period is less than 12 months and we divide by the number of associated companies.
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.