Subscriber only lesson.
Sign up to this course to view this lesson.
Tax Part 7
When to use
When constructing a basic Financial Model
- This section looks at the Tax Payable for the period
- Accounting Taxable Profit is taken from Row 271
- Depreciation Timing Difference is taken from Row 307
- Taxable Profit / (Loss) before losses is the sum of the above two rows
- Tax Losses used comes from the section shown below:
- Opening Tax Losses are taken from the previous period’s closing balance
- Tax Losses created during the period is =-MIN(J321,0)
- Tax Losses used is =-IF(J321>0,MAX(MIN(J321,J340),0),0)
- Closing Tax Losses is the sum of the above rows
Lesson notes are only available for subscribers.