underlying rate of CT

valentino46

hi,

on the CT600 how do we calculate the underlying rate of CT %

cheers

rob

Steve Collings

Hi,

To calculate the 'effective' rate of interest you would need the financial statements to divide the income tax charge into the profits before taxation. You can't do this straight from the CT600 unless profits before taxation are the same as profits chargeable to corporation tax, which invariably is never the case.

Kind regards.
Steve

valentino46

thanks steve,

in my osborne books when i am required to complete a short CT600 the % figure in box 66 is always present. it may not be required in the exam ill ask my tutor.

thanks again for your comments

rob