Quizzes & Puzzles0 min ago
Uk Corporation Tax
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Is UK Corportation Tax that has been paid shown in the P & L a/c
Appreciate advice on this point
Thanks
Sasso1
Appreciate advice on this point
Thanks
Sasso1
Answers
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The answer is 'yes' because it has to be shown somewhere in the P&L as a revenue expenditure within the year associated with the relevant P&L.
However Corporation Tax is not due for payment for many companies until 9 months after the end of the relevant year - so it generally shows as a liability for a period until actually paid.
However Corporation Tax is not due for payment for many companies until 9 months after the end of the relevant year - so it generally shows as a liability for a period until actually paid.
Only 1 answer
