FRS 19 - Deferred tax: Appendix 1 (Notes to the Accounts)

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The following provide examples of the disclosures required by FRS19. These will need to be adapted to suit the circumstances of individual companies e.g. remove references to discounting.

1Accounting policy

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has [not] been discounted.

No provision has been made for deferred tax on gains recognised on revaluing property to its market value as the company does not intend to sell the revalued assets.

The above amounts to a change in accounting policy. The previous policy was to provide deferred tax only to the extent that it was probable that liabilities would crystallise in the for...

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