Commentary

B2.509 Expenses related back

Business tax
Business tax | Commentary

B2.509 Expenses related back

Business tax | Commentary

B2.509 Expenses related back

When a sum has been charged as a trade expense for a certain accounting period, no adjustment of the amount can, as a rule, be made. If, however, a liability had accrued in the accounting period in question, but the amount to be charged is subsequently altered, there may be a case for reopening the return for the previous period so as to substitute the ascertained amount for the amount charged for that period. The question is to some extent a question of fact, but the principle is that if the liability accrued in the earlier

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