Corporation Tax Flashcards
1
Q
Def: chattel
A
An item of property other than freehold land, including tangible goods
2
Q
Def: tangible good
A
If it can be touched
3
Q
When does the accounting period start? 1. Opening of account or 2. Begins to trade
A
Earliest of either
4
Q
Do companies have an exempt amount of corporation tax?
A
No
5
Q
How’s augmented profits work?
A
Devise by the number of related companies
