Hi All,
i am in a position where i might get a CT refund from previous years (due to capital allowances and the AIA).
If this does happen - is the refund income?
if it is do I pay tax on the refund?
I currently post my CT provision into my capital accounts..... so assume if CT is income i need to post it elsewhere and it is not just a cr to my provision account?
Thanks oh knowledgable ones.
i am in a position where i might get a CT refund from previous years (due to capital allowances and the AIA).
If this does happen - is the refund income?
if it is do I pay tax on the refund?
I currently post my CT provision into my capital accounts..... so assume if CT is income i need to post it elsewhere and it is not just a cr to my provision account?
Thanks oh knowledgable ones.
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