1.1 Intro to Corporation Tax Flashcards
1
Q
What is corp tax charged on?
A
Charged on any corporate body
2
Q
What does a corporate body include? x2
A
Includes both limited and unlimited companies
3
Q
What else does corp tax also apply to? (give examples)
A
Unincorporated associations, i.e. members clubs and political associations
4
Q
What forms of income do companies have? x4
A
- trading profit,
- non-trading profit,
- property income; and
- capital gains
5
Q
An incorporated company is either ………… or …………?
A
Ltd (limited) or Plc
