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Factors affecting the tax rate |
See Also
Adjustment of profit | Deferred tax introduction | Factors affecting the tax charge | Profit and loss account / Income statement (D schedule) | Tax accounting disclosures
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule reconciles the absolute tax charge to the book tax charge.
This schedule will be developed as part of the F schedules. The F schedules can be developed from either the Adjustment of profit schedule or the Profit and Loss account by selecting Develop, Other, Tax account.
The key figures are picked up automatically from other schedules in the computation or calculated where appropriate.
Most of the items will be automatically allocated to a particular column on the right hand side of the schedule. The column headings represent the captions in the Tax accounting disclosures schedule. Some cells have been left as data entry for the user to allocate to a column as they think appropriate. For amounts entered manually on this schedule (i.e. in the ?Other?row), these will need to be allocated to a column as the user thinks appropriate.
NB. If items are coming through as ?Roundings? on the Tax accounting disclosures schedule, it may be that some items have not been allocated to a column on this schedule.
Roundings limit
Differences of more than the roundings limit in the reconciliation are shown as a check error at the end of the reconciling items. The roundings limit is specified in the Factors affecting the tax charge schedule.
Other
A row entitled Other is available for unusual items. Alternatively additional rows may be inserted on this schedule if necessary.
Note: To ensure that the layout of this schedule is clear, display formulae are employed to suppress many of the 'zero' amounts.
This schedule has no standard supporting schedules.
© 2009 Thomson Reuters.