What are Tax Computations?
Tax computations are statements that show annual tax adjustments to the accounting profit of companies that require supplementary evidence for their tax matters. Examples of tax adjustments include: non-taxable receipts, non-deductible expenses, capital allowances or additional deductions. Usually, these types of computations are tax payable with those requiring more intricate tax affairs.
As a result, they are typically handled by the taxpayer or their chosen specialist accountant, like Nordens. Once completed, the tax computations are then usually submitted to the appropriate tax authority as supplemental material, which supports a uniform summary tax return, such as a UK Corporation Tax Return.
What are Tax Computations used for?
Corporation Tax computations are an accurate way of calculating the adjusted profits for Corporation Tax purposes. However, the procedures for this tend to be complex, and it’s advised that an expert accountant manages and completes this on your behalf.
Our team can work with you to ensure that we are your trusted advisors to carry out this work for you.
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