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Hi Chris
Thank you for those great lectures. You have made my study so much easier. I have a question on current tax if you could have a look please.
When there is a credit balance on current tax, does it mean a over provision of tax for the previous year? Do we credit the same amount to tax expenses?
Thank you
Hi,
Thanks for the kind comment and glad that the lectures have helped.
Yes, a credit balance will reduce the tax charge for the current year and this is because we have over provided in the previous year.
Thanks
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