Corporation tax

Question 1

What is the general proforma of a corporation tax computation ?

Answer 1

Question 2

What are the two reliefs available for corporation chargeable gains ?

Answer 2

1. ROR/HOR - L&B/P&M
2. SSE - shares

Question 3

How is Marginal Relief calculated?

Answer 3

(U - A) * N/A * SF
U - upper limit
A - augmented profits (with QCDs)
N - TTP

Question 4

For long period of account (AP>12), on what basis should NTLR be accounted for ?

Answer 4

Accruals basis.