Minerva Equity Limited - 31 March 2019 Final 19.08.2019 - Flipbook - Page 44
Minerva Equity Limited (formerly DMWSL 881 Limited)
Notes to the financial statements
for the period ended 31 March 2019 (continued)
11 Tax on loss (continued)
Reconciliation of tax charge:
The tax assessed for the period is higher than the standard rate of corporation tax in the UK of 19%.
The differences are explained below:
Period ended
31 March 2019
£m
Loss before taxation
Loss multiplied by the standard UK rate of tax 19%
(18.6)
(3.5)
Effects of:
Expenses not deductible for tax
4.4
Tax charge for the period
0.9
Changes to the UK corporation tax rates were substantively enacted as part of the Finance Bill 2016
(on 7 September 2016). These include reductions to the main rate to reduce the rate to 17% from 1
April 2020. Deferred taxes at the balance sheet date have been measured using these enacted tax
rates and reflected in these financial statements.
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