W Ltd had trade profits of ?290,500 for the year ended 31 March 2013.
　　Question：The company received a dividend of £9,000 on 1 November 2012.
　　The corporation tax payable by W Ltd for the year ended 31 March 2013 is:
　　A. £69,720
　　B. £58,124
　　C. £58,100
　　D. £57,312
　　The correct answer is: £58,124.
　　解析：Dividend is grossed up.
　　£9,000 x 100/90 = £10,000
　　Therefore, augmented profits are £300,500.
　　Hence, corporation tax at 24% less marginal relief applies.
　　£290,500 x 24% = £69,720
　　less: marginal relief
　　1/100(£1,500,000 - £300,500) x £290,500/£300,500 = £11,596
　　Therefore corporation tax = £69,720 - £11,596 = £58,124.