We outsource to an online accounting company. We have a small limited company in the UK. Year end accounts been and gone. Expecting a certain profit figure in this years accounts as now a few months into the new year but found the profit has been reduced due to estimated corporation tax. There isn’t a corresponding journal in the year end or this years accounts. Is this normal?
This question has nothing to do with Manager. This is something for you to discuss with your online accounting company. This is not a general purpose forum.
Taking up corporation tax in the accounts can be done in several ways so read this topic