Fiorellino wrote: »
No taper relief or Annual Exemption is given to companies. It only apllies to Sole trader and Partners
Ash1711 wrote: »
when do we got the results?
i have a good feeling about mine as alot of people have the same answers
Fiorellino wrote: »
Yes when do we have the results?
pernickety wrote: »
From the majority of everyone's answers I can see I went wrong on a few points - firstly I deducted the cost of levelling land on the IBA when I shouldn't have. I also apportioned for 6/10 months (as the building was brought in to use 6 months in to the accounting year) when it looks like I shouldn't have, so my IBA will be completely wrong!
Adjusted Profits: I added back on the £600 for goods taken for own use (the profit that was missing), so pleased that seems OK. Disallowed the wife's earnings and the owner's, but allowed the son's (as he was an employee), so that's OK. Think got the NI question OK too, TP - less 5225x8% and the date of filing question, think OK. OK, I think with the question about indexation allowances. Section 2 - Straight forward accounting 12 months for limited company. But surprised that another capital allowance question - remembered not to apportion on the capital allowance for sole use of vehicle, gave 40% FYA as not a small company for the P&M, gave FYA for the SLA as well. No Schedule III, no shedule A - gain on the shares, OK I think, no gift aid. 30% on the PCTCT, marginal relief OK, gave the payment due at 14 day of M7. Answered the email about associated company dividing the allowances available by 50%. So, hopefully those couple of errors will be OK, fingers crossed.
kjg-kj wrote: »
Yeah where we had to work out corp tax due. I put 1 November 2008. 9 months and 1 day after year end because they were a medium company.
cs_1988 wrote: »
17th and 18th Feb,
Did everyone on the last question say if the had associated companiy this year they would be paying full rate of corp tax.
And explain for the shares in section 1 he got indexation to 98, then taper relief of 25%
GoldenRetreiver wrote: »
Beggar I misunderstood the corporation tax payment question, I read it that they wanted to know how long you had to keep files etc i.e. 6 years