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Why a staggered Corporation tax rate?
My understanding is that the effective rate of corporation tax for the financial year ending 31/03/07 is 19%.
Why then does FreeAgent split my profit over two years (2006 and 2007) and apply a different rate of corporate tax to each year, i.e. 2006 @ 19%, 2007 @ 20%?
I should add that my company accounting year ends on the 31st of March.
Why then does FreeAgent split my profit over two years (2006 and 2007) and apply a different rate of corporate tax to each year, i.e. 2006 @ 19%, 2007 @ 20%?
I should add that my company accounting year ends on the 31st of March.
I’m not follow this logic...
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Inappropriate?Michael - I've been checking through the code to work out what's going on here - suffice it to say you're right - we're not splitting that year correctly up. Sorry about that - I'll re-post here when I have a solution available.
I’m sad
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Inappropriate?Michael - this should now be fixed. Let us know whether it now works for you, can you?
I’m mildly optimistic
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Inappropriate?Ed - that's working properly now. It displays the 2007 tax year (at 20%) but my profit all lies in the 2006 year, as expected. Thanks!
I’m pleased
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