URGENT TASK 2.4 ON BTC FRIDAY DEC 03

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi,
I was just wondering if anyone can tell me why marginal relief is not given on this answer. Is it because the the lower and upper limits are time apportioned and both these profits are lower than the lower limit if that makes sense,
Please help!!! :D

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:URGENT TASK 2.4 ON BTC FRIDAY DEC 03

    Hi Amelie
    Profit Range and Corporation Tax charged is as follows
    £0 to £10.000 Starting rate 0%
    £10,001 - £50,000 19% less marginal relief
    £50,001 - £300,000 19% (no marginal relief)
    £300,001 - £1,500,00 30% less marginal relief
    £1,500,001 and over 30% (no marginal relief)
    The profit was £223,692 so it is only 19% without marginal relief.
    Take care and again all the best for tomorrow
    Natascha
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:URGENT TASK 2.4 ON BTC FRIDAY DEC 03

    many thanks for that, completely had forgotton that!

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