That bit about being a company was what I was expecting and dreading!
Tim 59 wrote: Your are potentially engaging in retrospective tax planning. If challenged by HMRC, can you show documentary evidence that the quantum and obligation was established prior to the year end and not an artificial transaction for the purpose of tax avoidance?
I can't argue with that. I guess I will leave it there.
Thanks to all for the advice.
Thanks once more.
Would I be correct in thinking that I would then simply repeat the process (accrue & pay withinh 9 months) each year?
Otherwise it seems rather pointless.
Thank you for responding.
So is my understanding correct that; a bonus paid now, 'could' be accrued for CT purposes in the y/e 28/02/15, thus reducing the 2015 CT liability
But it would have to be included on the director's 2015/16 self assessment, effectively reducing the 2015/16 personal allowance, which I was already planning to fully utlise
No - it's a few pounds which I think is due to a manual adjustment I did last quarter.
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