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Buttercup Ltd, which makes up accounts to 31 March, purchased an overseas subsidiary, Roote BV, and a UK subsidiary, Petal Ltd, in 1991. In May 2012 it sold Petal Ltd and purchased another UK subsidiary, Stamen Ltd. All subsidiaries are 100% owned. What is the small profits rate upper limit for determining the rate of corporation tax for the year ended 31 March 2013? A. £500,000 B. £1,500,000 C. £375,000 D. £750,000 |