R&D

R&D

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Dear All

We have one client company have R&D expense but we did mistake and didnot claim relief and client had to pay corp tax in 2008, in 2009 we file amended tax return for 2008  and claim relief and this year client get back the refund of corp tax he paid , my question is

1- Is this refund company income?

2- how we should show in accounts and will this refund increase this year profit?

Thanks in advance.

Abid Raja

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By blok
29th Mar 2011 09:36

.

It depends, how much was the R&D and how did you calculate the figure?

Seriously!

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By PennyC
29th Mar 2011 14:53

Ask yourself

How did you account for the tax paid? As an expense of the company?????

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