Sorry yes I did not explain myself very well.
I have a small business at the moment and this is my first return.
I have a website were users can upload videos and charge other users to view them.
The users who upload the content can then request payment from the site, we deduct a fee and send them the remainder.
To keep track on what is owed to users another bank account was set up within the accounts, and we adjust this amount monthly so we know what is owed out.
I was informed to put this as a provision within my accounts as the amount to be paid out is know, but we don't know when it will be due (it depends on when the users requests payout).
I hope this makes things a bit clearer?
I hope this is helpful and answers your question.
If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
Thank you .
I can see this field in the Accounts section of the CT600, but it's not in the Computations or CT600 sections.
Thank you, ***** ***** I understood enough of this to do myself, but the jargon gets to me sometimes!