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accounting period(AP)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › accounting period(AP)

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Tax Tutor.
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  • July 13, 2020 at 2:53 am #576657
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    Sir as per my study text an accounting period starts just as soon as as “company starts to trade(or receives income chargegable to CT)” so with regard to this definition i have a doubt. even if the company receives non-operating income, is it considered to have become eligible for CT?? or only operating income?

    July 13, 2020 at 11:44 am #576687
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Noah you need to stop posing “but what if” questions and focus on being good at applying the core issues that are in your notes and lectures – avoid distractions!
    If a company has taxable income it will need to prepare a CT computation whatever form it takes.

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