Current Tax Reconciliation

Last modified 07:50, 24 Apr 2017

Overview

This window should be broken down into different sections during completion.  The entries to be made are a mixture of manual and auto calculated entries.  The automatic entries are taken from other entries made within the Tax Account Summary and also from within the corporation tax software.

Tax on charge on Profits at CT Rate

Please enter the rate of tax to be applied to the profits.

tax charge on profits at CT Rate.gif

Fixed asset differences

Non-qualoifying depreciation

Software version 2015.2 and earlier:

Enter the amount of depreciation arising on assets included within the company's financial statements that do not qualify for capital allowances.

Software version 2015.3 and later:

The amount of depreciation and profit/(loss) on disposal of fised assets arising on assets not qualifying for capital allowances will be completed based upon the entries made in the non-qualifying assets data entry area.. 

Other non-quaifying depreciation

Enter amounts of depreciation arising on other assets that do not qualify for capital allowances not already included in above.

Permanent and timing differences

This is a mixture of manual and auto calculated entries.  The entries for the permanent differences are taken from the corporation tax computation.  It is not possible to identify all entries that are permanent or timing differences so manual entries may be required to be made.

Permananet and timing differences.gif

 

Utilisation of tax losses and other entries

Again this is a mixture of manual and auto calculated entries.

An entry should be made in the difference in tax rates in profits.

 

utilastion tax losses.gif

 

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