Q: do we divide the upper and lower profit limits if 2 companies are controlled by an INDIVIDUAL, or we just do it for a group where a parent company controls the subsidiaries?
Ask the Tutor ACCA TX-UK
Corporation Tax
Yes you would divide profit limits by 2 if both companies are controlled by an individual! Companies are associated if one is controlled by another or two or more are under common control. That common control may indeed be by an individual,
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