Deferred Tax

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Many accountants don’t feel the need to recognise deferred tax – it is more of an accounting concept than a tax to be paid. This course will help you understand why deferred tax should be recognised and gives you everything you need to do this correctly.

£100 +VAT

4 CPD hours

120 days’ access

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Use ACPD101 for 10% off any purchase.

Deferred Tax

£100 +VAT

4 CPD hours 120 days’ access
Use ACPD101 for 10% off any purchase.

Deferred Tax

This course is not currently available. To find out more, please get in touch.

This course will enable you to

  • Recognise deferred tax correctly in the financial statements
  • Apply the correct tax rates for deferred tax
  • Understand the various accounting treatments for deferred tax
  • Make the appropriate disclosures in relation to deferred tax assets

About the course

Many accountants don’t feel the need to recognise deferred tax in the financial statements as it is more of an accounting concept, rather than a tax that is paid. However, deferred tax should be viewed as an accruals concept, where a timing difference occurs because a transition arises in one period but can be reversed in another. You need to pay careful attention to deferred tax, to the tax rates applied, and to the correct material disclosures relating to any deferred tax assets or liabilities.

This course will help you understand why deferred tax should be recognised, the importance of timing differences, which tax rates should be used for its calculation, and the fundamental rules for recognising deferred tax assets.

Please Note: This course only covers tax in the United Kingdom

Contents

Deferred tax: the basics

Defining deferred tax
Deferred tax explained
What to bear in mind
Tax regime differences
Common problems

Tax rates

Tax rates and deferred tax
Changes in tax rate
Tax rate change timings
The wrong tax rate
Further considerations
Assets and liabilities

Accounting for deferred tax

Remeasuring investment property
Investment property gains and losses
Property, plant and equipment revaluations
Defining a business combination
Deferred tax and business combinations

Deferred tax assets and liabilities

Deferred tax assets
Presentation of deferred tax liabilities
Disclosure requirements for deferred tax
Creating deferred tax assets

How it works

Author

Steve Collings

Steve Collings

Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA”s Practice Network Panel.