- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 No. 410
84.—(1) Particulars must be given of any special circumstances which affect liability in respect of taxation of profits, income or capital gains for the financial year or liability in respect of taxation of profits, income or capital gains for succeeding financial years.
(2) The following amounts must be stated—
(a)the amount of the charge for United Kingdom corporation tax,
(b)if that amount would have been greater but for relief from double taxation, the amount which it would have been but for such relief,
(c)the amount of the charge for United Kingdom income tax, and
(d)the amount of the charge for taxation imposed outside the United Kingdom of profits, income and (so far as charged to revenue) capital gains.
Those amounts must be stated separately in respect of each of the amounts which is shown under the following items in the profit and loss account, that is to say item III.9 (tax on profit or loss on ordinary activities) and item III.14 (tax on extraordinary profit or loss).
See regulation 6(2) for exemption for companies falling within section 408 of the 2006 Act (individual profit and loss account where group accounts prepared).
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