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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Income tax & corporation tax
Hi there,
differences between Income tax & corporation tax in these cases
* property income
* Tax adjusted trading profit ( is it same for both? any differences in calculation?)
* Interest income
* Qualifying Charitable Donations
@mahboba said:
Hi there,
differences between Income tax & corporation tax in these cases
* property income
* Tax adjusted trading profit ( is it same for both? any differences in calculation?)
* Interest income
* Qualifying Charitable Donations
Read chapters 2,3,4 and most importantly 15 of the OT course notes!
thank u 🙂
Please sir, kindly clerify me on the points that:
31 January 2019 is the 5 years of 31 Jan 2015 which is the filing date for 2013/14.
Also on 31 Jan 2016 being one year of the filing date of 2013/14 tax year.
Records must be retained until five years after the filing date, which is 31 January 2019 for the year 2013/14 if the tax payer is a business or has properties to let. However records must be retained for only one year after the filing date, which is 31 January 2016 for the year 2013/14 if not in business.
The principles you quote are indeed correct but I think there is also an updating error here in the material as I think 5 years from 31 January 2015 (filing date for 2013/14) should be 31 January 2020.
Thank you for bringing this to my attention!
