hi sir could we paid balancing payment given payment on account
Ask the Tutor ACCA TX-UK
balancing payment / payment on alc
Yes - payments on account are based on the tax payable of the preceding year so a balancing payment will be required if the tax payable for the current year is bigger than last year.
plz could we have an example i am a bit problem on it
You have one - it is in the OT course notes!
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