TAKING ON THE ACCOUNTANTS

摘要

The starting point for any corporation tax computation is the figure for profit before tax in the company's accounts. While there are many adjustments required by tax law, such as capital allowances or the disallowance of specific items such as entertaining expenses, until recently it was rare for HMRC to challenge accounting treatment itself. This appears to be changing. Figures provided to Pinsent Masons show an increase of 57% in the tax under investigation by HMRC's Large Business Service (LBS) in relation to accounting standard breaches: the total has jumped from £282m in 2012 to £442m in 2013.