The company intend to make Gift Aid donations of £30,000 every six months, starting on 30 November 2019. (a) Compute the company’s corporation tax liability for the year (b) How would the tax liability differ if the accounting period had been the year to 30 April 2020 and all of the dates given above had been on month later?
please question A and B is required.
A company has the following results for the year to 31 March 2020: £
Adjusted trading profit, after deduction of capital allowances 360,284
Bank deposit interest (a/c opened 1 July 2019):
Received 31 December 2019 9,957
Accrued to 31 March 2020
3,000
Dividend received in January 2020
24,300
Chargeable gains
295,327
Gift Aid Donations:
Paid 30 November 2019
30,000
Accrued to 31 March 2020
20,000
The company intend to make Gift Aid donations of £30,000 every six months, starting on 30 November 2019.
(a) Compute the company’s corporation tax liability for the year
(b) How would the tax liability differ if the accounting period had been the year to 30 April 2020 and all of the dates given above had been on month later?
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