Q: 17
Section B (2 Mark)
In the year to 31 March 2012, a UK resident company made a UK trading profit of £800,000 and
received net overseas income of £26,000 (net of 20% withholding tax). These were the company's
only sources of income. The company also paid a qualifying charitable donation of £5,000.
For double tax relief purposes, the charitable donation will be allocated as a deduction from the
company's overseas income. True or False?
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