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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15976
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Do I charge my Corp tax payment for one year as an expense

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Do I charge my Corp tax payment for one year as an expense on my books for the following year (which is when it's paid)? Or do I leave it off my profit and loss account?

Corporation Tax is not a tax deductible expense of the business and can be left off the profit and loss account, though I have seen it included in some accounts. In that case, it would need to be added back as a disallowable expense.

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