Free ACCA Taxation (TX) Flashcards

Question

What makes a company UK resident

Question

What are the consequences of a company being treated as UK resident

Question

What is a company’s period of account

Question

What is a financial year in corporation tax and what is its purpose

Question

For what period is a corporation tax computation prepared

Question

If a company is not large by when must it pay its corporation tax

Question

How does a large company pay its corporation tax

Question

How do you determine if a company is large

Question

When does an accounting period start

Question

When does an accounting period end

Question

What is included in the computation of “Total Profits” on the corporation tax computation

Question

What is the difference between “Total Profits” and “Taxable Total Profits”

Question

In the adjustment of trading profit for a company what is the treatment of motor expenses

Question

What is the tax treatment of loan interest payable on a loan taken out by a company

Question

If a car is provided by a company for the business and private use of the owner manager of

Question

What tax relief, if any, is available to a company when it buys business premises

Question

For corporation tax purposes what happens when a company changes its accounting date by preparing accounts for a 15 month period

Question

If a company incurs a trading loss for an accounting period,

Question

Can a company choose to use only part of a loss when making a claim

Question

Can a company ever carry back a loss for more than 12 months

Question

How can a company use a capital loss

Question

Explain the tax issues that arise if both subsidiaries incur trading losses in the current period

Question

A company has 2 subsidiary companies, one wholly owned and the other 60% owned.

Question

Explain the tax issues that arise if the parent company incurs a capital loss while both subsidiaries realise chargeable gains in the current period

Question

If company A owns 80% of company V, which in turn owns 80% of company FC,

Question

If company A owns 75% of company V, which in turn owns 75% of company FC,

Question

How does the calculation of a chargeable gain for a company differ from how a gain is computed for an individual

Question

If a net capital loss arises on disposals made by a single company in an accounting period, what happens to the net capital loss

Question

When a company disposes of shares in another company what is the order in which the shares sold are matched with acquisitions.

Question

What difference arises in the tax treatment of shares acquired by a company in the form of a bonus issue and a rights issue