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Am i correct in saying the sixth year the tax base and the Cv are both 30000 and the deferred tax movement is to pay back the last 2881?
Hi,
If the business has not disposed of the asset and the tax base and carrying value are identical, then there is no deferred tax balance and so any deferred tax balance is reversed out to profit and loss. There is no payment as such as deferred tax is just an accounting entry.
Thanks
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