TTP - question

In this lesson

1. 0:00 Introduction to Grow Fast Limited question
2. 0:35 Identifying adjustments to expenses
3. 2:08 Capital allowances calculation
4. 6:59 Computing trade profit and total profits
5. 7:36 Corporation tax computation and marginal relief
6. 8:32 Payment due dates and CT liability

About this lesson

This six-question example covers essential adjustments to expenses, disposal proceeds, and capital allowances—skills you'll need for TX and ATX papers. The video takes you through a realistic scenario involving Grow Fast Limited, breaking down each expense line by line to show which adjustments are necessary and which aren't. You'll see how to handle common traps like distinguishing between employees and owners, capital versus revenue expenditure, and short lease renewals. The worked example demonstrates how to build your computation systematically, reference your workings clearly, and apply marginal relief correctly when calculating the final tax liability. By the end, you'll understand how to structure your answer efficiently under exam conditions and recognise when to carry forward losses or apply full capital allowances. This approach—working methodically through each element rather than rushing—is what separates confident answers from errors that cost marks.

Duration: 9m