Motor Car 1 (petrol) at a cost of £O,
Motor Car 2 (diesel) at a cost of f20,000. The CO2 emissions of Motor Vehicle 2 were 125g/l’_.Cmi issons of Motor Vehicle 1 were 45 km
Property
Grover Limited let the office building to an un-associated company at a rent of £2,000 per month from
1 February 2021. The rent is aka quarterly in advance on the 1″ of each month. The first payment was made on 1 February 2021.
Group Companies
Grover Limited is a subsidiary of Dance UK Limited. Dance UK Limited holds 90% of the ordinary share
capital of Grover Limited. Dance UK incurred a taxable trading loss of £250,000 in the 12-month period
to 31′ March 2021. Dance UK also has a trading loss brought forward of £25,000,
Requirement:
31. Prepare Grover Limited’s corporation tax computation and calculate the total corporation tax payable for the period ended 31 March 2021.
Your computation should include full details of Grover Limited’s trading income, property business income, non-trade loan relationships, and any qualifying charitable donations and should assume any available group losses are utilised in full.
(15 marks)
