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is there a difference in “Tax is payable in arrears ” and “Tax is payable in 1 year in arrears”?
Payable 1 year in arrears means payable the next year. Payable in arrears without specifying how much in arrears means payable later but it might be one year later, it might be two years later – we don’t know. For the exam you would assume it was one year later (but state your assumption).
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