Taxation & DT disclosure | AccountingWEB

Taxation & DT disclosure

Hi Everyone,


I have a client (small Ltd Co) who has made a trading loss (after deduction of AIA) in their first year of £11,016. Due to the AIA claim I have calculated a Deferred Tax Liability of £524, (NBV £2621 tax WDV £0).

Is the following disclosure in the accounts sufficient:- (FRSSE 2008)

Taxation on Ordinary Activities - There is no charge to corporation tax on the losses arising in the year.  The company has losses amounting to £11,016, not adjusted on the deferred tax accoun, whcih are available to offset against future trading profits.


Deferred Taxation - The elements of deferred taxation, which result in a nil balance at the end of the year are as follows:-

Excess of taxation allowances over depreciation on fixed assets                                                               £524

Tax losses available                                                                                                                                   (£524)








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thisistibi |
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Euan MacLennan |
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