Client Advisory Letter - Accounting Provisions and Year End Bonuses - Version 8 - March 2013
For those companies who wish to obtain a corporation tax deduction in the accounting period in which bonuses and other accounting provisions are accrued at the balance sheet date it is essential the conditions laid down in FRS12 and 21 are satisfied. The provisions of FRS 12 and 21create more stringent conditions in respect of the inclusion of year end provisions than previously applied. Our letter sets out the actions a prudent taxpayer should take to ensure bonus and other provisions are in accordance with the accounting standards and therefore allowable for corporation tax purposes.
Author: DTE Tax
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