Calculating Corporation Tax Liability Flashcards
1
Q
What is the first step to calculate corporation tax liability?
A
Calculate total taxable profits
2
Q
What is the second step to calculate corporation tax liability?
A
Calculate augmented profits
3
Q
What is the third step to calculate corporation tax liability?
A
Decide what rate to tax at
4
Q
What is the fourth step to calculate corporation tax liability?
A
Tax TTP at this rate
