ACCA 2026 TX Taxation Corporate Tax Free Quiz 1

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ACCA 2026 TX Taxation Corporate Tax Free Quiz 1

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ACCA 2026 TX Taxation Corporate Tax Free Quiz 1

Practice ACCA 2026 TX Taxation MCQs from Corporate Tax. Get instant results with Explanation.

General10 MCQs

1. What are the corporation tax rates in the UK for 2023/24?

A. Corporation tax is a flat rate of 20%B. Corporation tax rates are 25% main rate and 19% small profits rate for 2023/24C. Corporation tax is 30% for all companiesD. Corporation tax is not applied to trading profits

2. What types of profits are subject to corporation tax?

A. Corporation tax is only on trading profitsB. Corporation tax is only on capital gainsC. Corporation tax is on trading profits, investment income, and chargeable gainsD. Corporation tax is on gross receipts

3. What is the filing deadline for the corporation tax return?

A. The CT600 return must be filed within 12 months of the accounting period endB. The CT600 return must be filed within 6 months of the accounting period endC. The CT600 return must be filed within 3 months of the accounting period endD. The CT600 return must be filed within 18 months of the accounting period end

4. What is an accounting period for corporation tax?

A. An accounting period is always 6 monthsB. An accounting period is always 12 months and cannot be differentC. An accounting period is the same as the tax yearD. An accounting period is usually the period of accounts, but cannot exceed 12 months

5. What is the Annual Investment Allowance (AIA) for corporation tax?

A. Capital allowances are only available to individuals, not companiesB. The Annual Investment Allowance (AIA) provides 100% relief on plant and machinery up to £1 millionC. Capital allowances are not available for plant and machineryD. Capital allowances are given at a flat rate of 10% for all assets

General10 MCQs

6. How can trading losses be relieved for corporation tax?

A. Trading losses cannot be relieved against taxable profitsB. Trading losses can only be carried forwardC. Trading losses can be relieved against current profits, carried back, or carried forwardD. Trading losses are not allowed as a deduction

7. What is marginal relief for corporation tax?

A. Marginal relief provides a gradual increase from 19% to 25% for profits between £50,000 and £250,000B. Marginal relief is a flat reduction of 5% for all profitsC. Marginal relief is only available to new companiesD. Marginal relief does not apply to profits above £250,000

8. How are dividends received by a UK company taxed for corporation tax?

A. All dividends received by a company are subject to corporation taxB. Dividends from UK companies are taxed at 20%C. Dividends are not taxable for companiesD. UK dividends received by a UK company are generally exempt from corporation tax

9. What is the small profits rate for corporation tax for 2023/24?

A. The small profits rate is 20%B. The small profits rate is 19% for 2023/24C. The small profits rate is 15%D. The small profits rate is 22%

10. What is group relief for corporation tax?

A. Group relief is not available for lossesB. Group relief allows only trading losses to be surrenderedC. Group relief allows surrender of trading losses, non-trading deficits, and management expenses between group companiesD. Group relief is only available for companies with profits above £250,000

📋 ACCA - Test Online Practice Quizzes

ACCA

Conducting Body: Association of Chartered Certified Accountants

Frequency: Exam Frequency Year Round | Time: 360 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 116 MCQs):

Business and Technology: 46 MCQs
Management Accounting: 35 MCQs
Financial Accounting: 35 MCQs
Corporate and Business Law: 45 MCQs

Merit Formula: -

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