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Question 2Note 1 - Road Ltd
Tax rates
TX 2014 Tax Rates and Allowances
Road Ltd
(1) The operating loss for the three-month period ended 31 March 2014 is £26,100. Donations of £2,800 have been deducted in arriving at this figure. The donations consist of political donations of £400, and qualifying charitable donations of £2,400.
Required:
Are these allowable deductions to arrive at taxable total profit?