Current Affairs · Corporate Taxation
Geyor Ltd opened and placed a deposit into an interest-bearing bank account on 1 March 2024 (commencing non-trading activities). The company began trading on 1 April 2024 and prepared its first financial statements for the year ended 31 March 2025. What is Geyor Ltd's first accounting period for UK corporation tax purposes and the financial year into which it falls?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Accounting period: 1 March 2024 to 5 April 2024; Financial Year: FY2023
- 2Accounting period: 1 March 2024 to 31 March 2025; Financial Year: FY2024
- 3Accounting period: 1 April 2024 to 31 March 2025; Financial Year: FY2024
- 4Accounting period: 1 March 2024 to 31 March 2024; Financial Year: FY2023✓
Correct answer
Accounting period: 1 March 2024 to 31 March 2024; Financial Year: FY2023
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