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Difference between Income Tax Liability and Income Tax Payable

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Difference between Income Tax Liability and Income Tax Payable

  • This topic has 3 replies, 2 voices, and was last updated 4 years ago by Tax Tutor.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • September 26, 2020 at 7:48 am #586741
    sanjanag
    Participant
    • Topics: 5
    • Replies: 5
    • ☆

    Hello,

    Could you please clarify the difference between Income Tax Liability and Income Tax Payable? They pretty much sound like synonyms to me! Thank you.

    September 27, 2020 at 1:54 pm #586846
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    May I just ask if you are using the OT Study Notes and lectures?

    October 1, 2020 at 6:01 am #587091
    sanjanag
    Participant
    • Topics: 5
    • Replies: 5
    • ☆

    I just started the second lecture in which the doubt was cleared. Thanks again!

    October 1, 2020 at 11:35 am #587128
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    No problem – work through the notes and lectures doing the assigned work at the end of each chapter and once each tax has been completed attempt some section C questions for income tax and corporation tax and some section B questions for CGT, IHT and VAT from your Exam / Revision Kit that you should purchase from one of the approved ACCA providers.

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