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corporation tax

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › corporation tax

  • This topic has 4 replies, 2 voices, and was last updated 9 years ago by yushanshan.
Viewing 5 posts - 1 through 5 (of 5 total)
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  • November 15, 2015 at 10:52 am #282515
    yushanshan
    Member
    • Topics: 84
    • Replies: 70
    • ☆☆

    Every loan or bank interest for non-tading purpose should be taken into consideration in CIT, does it mean:purpose whether trading or non-trading is not a restriction for calculation in CIT? It is ok whether purpose is trading or not.

    November 20, 2015 at 1:38 pm #284159
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    What do you mean by CIT?

    November 20, 2015 at 1:39 pm #284161
    yushanshan
    Member
    • Topics: 84
    • Replies: 70
    • ☆☆

    corporation tax 🙂

    November 21, 2015 at 1:00 pm #284308
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Interest payable does indeed achieve tax relief on the CT computation it is just a question of where!
    Interest payable on a trading loan is deducted in deriving the trading income assessment whereas interest payable on a non trading loan is deducted from interest receivable.

    November 22, 2015 at 3:07 am #284419
    yushanshan
    Member
    • Topics: 84
    • Replies: 70
    • ☆☆

    thanks

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