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taxable total profits .. please help

Forums › ACCA Forums › ACCA TX Taxation Forums › taxable total profits .. please help

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by shab470.
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  • Author
    Posts
  • December 2, 2015 at 12:40 pm #286973
    Kamila
    Member
    • Topics: 16
    • Replies: 10
    • ☆

    Volatile Ltd commenced trading on 1 July 2004. The company’s results for its fi rst fi ve periods of trading are as
    follows:
    Period ended Year ended Year ended Period ended Year ended
    31 December 31 December 31 December 30 September 30 September
    2004 2005 2006 2007 2008
    £ £ £ £ £
    Trading profi t/(loss) 44,000 (73,800 ) 95,200 78,700 (146,800 )
    Property business profit 9,400 6,600 6,500 – –
    Chargeable gains 5,100 – – 9,700 –
    Gift aid donations (800 ) (1,000 ) (1,200 ) – –

    Required:

    Assuming that Volatile Ltd claims relief for its trading losses as early as possible, calculate the company’s
    profi ts chargeable to corporation tax for the six-month period ended 31 December 2004, each of the years
    ended 31 December 2005 and 2006, and the nine-month period ended 30 September 2007. Your answer
    should also clearly identify the amount of any unrelieved trading losses as at 30 September 2008.

    Can somone please explain when computing QCD deductions.. why we havent deducted the 800 and 1000 and how do we calculate the carry forward loss relief ..please advise .

    December 2, 2015 at 1:18 pm #286979
    shab470
    Member
    • Topics: 5
    • Replies: 21
    • ☆

    could you correct the wordings plz,

    like the Property Income, Chargeable Gain and Gift aid donation for which years

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    Posts
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