Specialist Tax Statutory Instruments
These Regulations make a series of consequential amendments to various legislation to account for the introduction of this new statutory leave and pay entitlement.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Sales, advertising and marketingExpenditure on sales, advertising and marketing activities may include amounts which are disallowable for the purposes of calculating trading profits. This may be because the expenditure is:鈥apital in nature (see the Capital vs revenue expenditure guidance note)鈥ot
Temporary differencesCalculation of temporary differencesThe temporary difference arising in respect of an asset or liability is calculated by comparing the carrying value of that asset or liability with its tax base.IAS 12 uses the concept of taxable or deductible temporary differences. Whether a
Terminal trading loss reliefTerminal loss relief for trade losses in the final 12 monthsTrading losses incurred by a company in the final 12 months leading up to the discontinuance of trade may be carried back for up to three years from the period beginning immediately before that 12-month period.
