Taxation

Sturridge plc had estimated its tax liability in 20x0 as £148,500. The liability was settled on 1 October 20x1 on the payment of £154,400. Tax on the profits in 20x1 is estimated at £179,000. As at 31 December 20x1 the tax base is £75,800 lower than the written down value of the corresponding assets. A balance of £18,400 is available in the Deferred tax account. Tax rate applicable is 25%. Select the tax expense and tax liability relating to the 20x1 financial statements Expense Current liability Deferred tax A, 172,550 179,000 17,850 B, 179,000 148,500 18,400 C, 203,850 327,500 37,350 D, 185450 179,000 18,950