Tax Relief On Running Costs

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December 6, 2011 at 12:00 am #50926
Anonymous
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I did a question where i had to calculate tax relief,
Tax relief was calculated on running cost separately and capital
allowance on investment separately.
Question is: if tax was paid in arrears, would we have to include the tax relief of running costs one year after just like in capital allowance on investment ??
December 6, 2011 at 9:35 am #90857
John Moffat
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Yes – if tax is paid one year in arrears then the tax saving on running costs will be one year after the cash flow (just as the tax paid on income would be one year later).
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