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When to tax revaluation reserve.

This topic has 1 reply, 2 voices, and was last updated 13 years ago by MikeLittle.

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November 13, 2012 at 3:14 pm #55253
taimurahmed
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I am referring to ALLGONE a question from june 2011 and Highwood.
Both questions had a revaluation figure in them, but the revaluation in allgone was taxed( In the income statement and ultimately the SOCIE) and highwood was not. Why is this so?
November 13, 2012 at 5:50 pm #107243
MikeLittle
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Because Steve Scott will tell you when to apply tax to the revaluation reserve – or alternatively he may say “Ignore the tax implications on the revaluation”
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