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total taxable profits

Forums › ACCA Forums › ACCA TX Taxation Forums › total taxable profits

  • This topic has 10 replies, 2 voices, and was last updated 10 years ago by Sharfin.
Viewing 11 posts - 1 through 11 (of 11 total)
  • Author
    Posts
  • November 25, 2014 at 6:36 pm #213201
    Sharfin
    Member
    • Topics: 11
    • Replies: 17
    • ☆

    when calculating total taxable profit for corporation taxx liability, chargeable gain must be added to trading profits. but why is the AEA not deducted from chargeable gains?

    November 25, 2014 at 6:41 pm #213202
    nikki
    Member
    • Topics: 18
    • Replies: 72
    • ☆☆

    I think you mixing up cgt pro forma with corp tax proforma… I know the annual exemption (£10900) is for cgt but I don’t think that has to do with corp tax. Hmmm.

    November 25, 2014 at 7:09 pm #213206
    Sharfin
    Member
    • Topics: 11
    • Replies: 17
    • ☆

    ohh thanks anyway that really helps 🙂

    November 25, 2014 at 7:13 pm #213212
    nikki
    Member
    • Topics: 18
    • Replies: 72
    • ☆☆

    Lol no problem. Yep it’s way too much. You could make up something to remember your proforma. Ahh oh well best of luck to you 🙂

    November 25, 2014 at 7:32 pm #213215
    nikki
    Member
    • Topics: 18
    • Replies: 72
    • ☆☆

    One thing though… it’s cgt for individuals… not companies

    November 25, 2014 at 7:35 pm #213217
    nikki
    Member
    • Topics: 18
    • Replies: 72
    • ☆☆

    Don’t forget in the corp tax proforma, there’s Chargeable Gains. .. that’s where cgt will come into play. But there’s no AE there

    November 25, 2014 at 7:42 pm #213219
    Sharfin
    Member
    • Topics: 11
    • Replies: 17
    • ☆

    yes 😀 for companies it is Indexation Allowance is deducted to give taxable gains instead of AEA.. im practising day night but still error on my math (not whole part.. silly mistakes) any suggestion for me?

    November 25, 2014 at 7:45 pm #213220
    nikki
    Member
    • Topics: 18
    • Replies: 72
    • ☆☆

    Haha I have no suggestions. Just a student about to explode from exam-prep. Loll

    November 25, 2014 at 7:46 pm #213221
    Sharfin
    Member
    • Topics: 11
    • Replies: 17
    • ☆

    hahaha.. which papers u’ll be giving in dec 14

    November 25, 2014 at 7:57 pm #213224
    nikki
    Member
    • Topics: 18
    • Replies: 72
    • ☆☆

    F5 & 6… going to do f4 in jan. U?

    November 25, 2014 at 8:32 pm #213231
    Sharfin
    Member
    • Topics: 11
    • Replies: 17
    • ☆

    f6 only

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    Posts
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