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Corporation Tax
Does one write ‘Corporation Tax Liability’ or ‘Corporation Tax Payable’? As per sole trader/individual there is a difference – ‘Income Tax Liability’ v ‘Income Tax Payable’!
Thanks in advance 🙂
-Corporate Tax Liability means Total amount of tax due to be paid to HMRC
– Corporation Tax Payable means Corporate Tax liability less Tax paid
Same applies to Income Tax.
Regards
Raj
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