Tax

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Income tax for the year (not payable this year) is the liability to carry forward Income tax charge for the year / current tax for the year is the figure entered as a debit in this year's statement of profit or loss Current tax is simply a way of distinguishing one of the tax T accounts from the other (Defered tax) Tax liability at the end of the year is the carry down figure in either or both of the tax T accounts Provision for taxation / provision needed for taxation is the same as above - it's the liability to be carried forward at the end of the year