Matching NCD's

Matching NCD's

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Accounting year ended 30 June 2005:

Basic Profits £145,000
NCD's £150,000

Clearly company pays tax at underlying rate equal to or in excess of 19% therefore NCDR does not apply but does it still have excess NCD's of £5,000?

There is also a group company in the year ended 30 June 2005 which has sufficient profits to absorb the excess NCDs and has an underlying CT rate of 0% - presumably mandatory reallocation is necessary.
Steve Glover

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