Long periods of account Flashcards
1
Q
Trading profits before capital allowances
A
Adjust profit for the period of account for tax purposes and then time apportion
2
Q
Capital allowance
A
Calculate separately for each period according to the date of purchase or sale of the asset - then deduct from the adjusted profit
3
Q
Property income
A
Time apportion
4
Q
NTLR
A
Accruals basis
5
Q
Chargeable gains
A
Date of disposal
6
Q
Miscellaneous income
A
Time apportion
7
Q
Qualifying charitable donations
A
Date paid
