Obi Ltd made a trading profit of £739,000 for the nine month period ended 30 September 2021. On 1 February 2021, Obi Ltd sold a warehouse. This resulted in a chargeable gain of £120,000. On 1 August 2021, Obi Ltd made a qualifying charitable donation of £5,000. Obi Ltd has a capital loss brought forward from the year ended 31 December 2020 of £20,000. What is Obi Ltd's corporation tax liability for the nine month period ended 30 September 2021? £118,845 £158,460 £162,260 £159,410

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter11: The Corporate Income Tax
Section: Chapter Questions
Problem 1MCQ: Ironwood Corporation has ordinary taxable income of $65,000 in 2019, and a short-term capital loss...
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Obi Ltd made a trading profit of £739,000 for the nine month period ended 30 September 2021.
On 1 February 2021, Obi Ltd sold a warehouse. This resulted in a chargeable gain of £120,000.
On 1 August 2021, Obi Ltd made a qualifying charitable donation of £5,000.
Obi Ltd has a capital loss brought forward from the year ended 31 December 2020 of £20,000.
What is Obi Ltd's corporation tax liability for the nine month period ended 30 September 2021?
£118,845
O£158,460
£162,260
£159,410
Transcribed Image Text:Obi Ltd made a trading profit of £739,000 for the nine month period ended 30 September 2021. On 1 February 2021, Obi Ltd sold a warehouse. This resulted in a chargeable gain of £120,000. On 1 August 2021, Obi Ltd made a qualifying charitable donation of £5,000. Obi Ltd has a capital loss brought forward from the year ended 31 December 2020 of £20,000. What is Obi Ltd's corporation tax liability for the nine month period ended 30 September 2021? £118,845 O£158,460 £162,260 £159,410
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