Commentary

D7.558 Definition of expenses payable

Corporate tax
Corporate tax | Commentary

D7.558 Definition of expenses payable

Corporate tax | Commentary

D7.558 Definition of expenses payable

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

Relief for expenses payable is restricted to sums brought into account on lines 12, 22 and 25 of the revenue account in the insurer's FSA return subject to certain exclusions1. Sums on line 12 will typically be investment expenses that have been netted against the income in that line and will need to be isolated using information in the company's accounting records.

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