Retail and Tax computation: Difference between pages

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1.  ''Markets - trading''.
A calculation of tax payable by a business or by an individual with more complex tax affairs, usually prepared by the taxpayer or the taxpayer's agent.


Trading in small quantities, including by private individuals.
Tax computations are normally submitted to the relevant tax authorities as supplementary material supporting a standardised summary tax return, for example a UK Corporation Tax return.


In banking, 'retail' customers would also generally include Small and Medium-Sized Enterprises (SMEs) as well as individuals.
For a business which produces external accounts, the tax computations will commonly include:


# A summary adjustment of the (externally reported) accounting profits, to calculate the taxable profits.
# Additional detail and reconciliations of figures appearing in the accounts.


2.  ''Goods and services''.


The provision of goods and services to members of the general public, usually for their personal or household consumption (rather than for resale).
Sometimes known as a tax comp or tax comps.  




==See also==
== See also ==
*[[British Retail Consortium]]
* [[Accounts]]
*[[Challenger bank]]
* [[Addback]]
*[[Conduct]]
* [[Corporation Tax return]]
* [[Demand]]
* [[Disallowable expenditure]]
* [[Efficient market]]
* [[Tax ]]
* [[High street]]
* [[Market]]
* [[Market mechanism]]
*[[Retail bond]]
*[[Retail mobility index]]
*[[Retail payments]]
*[[Retail Prices Index]]
*[[Small and Medium-sized Enterprises]]
*[[Stability]]
* [[Supply]]
* [[Wholesale]]


[[Category:The_business_context]]
[[Category:Taxation]]

Revision as of 21:48, 29 September 2014

A calculation of tax payable by a business or by an individual with more complex tax affairs, usually prepared by the taxpayer or the taxpayer's agent.

Tax computations are normally submitted to the relevant tax authorities as supplementary material supporting a standardised summary tax return, for example a UK Corporation Tax return.

For a business which produces external accounts, the tax computations will commonly include:

  1. A summary adjustment of the (externally reported) accounting profits, to calculate the taxable profits.
  2. Additional detail and reconciliations of figures appearing in the accounts.


Sometimes known as a tax comp or tax comps.


See also