accounting period(AP)

This topic has 1 reply, 2 voices, and was last updated 5 years ago by Tax Tutor.

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

Author

Posts
July 13, 2020 at 2:53 am #576657

Noah098
Member

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

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.
Author

Posts

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

You must be logged in to reply to this topic.