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Corporation tax liability

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Corporation tax liability

  • This topic has 1 reply, 2 voices, and was last updated 7 months ago by JillyB.
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  • November 21, 2024 at 4:23 pm #713406
    PurpleLotus
    Participant
    • Topics: 16
    • Replies: 13
    • ☆

    Ash Ltd

    b) Calculate Beech Ltd’s corporation tax liability for the year ended 31 January 2024.

    The taxable total profit is £331,990.

    Answer: Corporation tax (£331,990 × 25%)

    Dear Tutor,
    I am wondering why 25% was used for the whole calculation. Shouldn’t 2/12 be at 19% because of FY2022 (1 Feb 2023 – 31 Mar 2023)?
    Thank you.

    November 22, 2024 at 10:00 am #713421
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    I think you are right. It may be that the writer of the question meant to say January 25? I am not sure but I would have split the year

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