Debit not greater than 10% of net assets.
Grossing up and paying income tax on CT.
The Ct return is late so surcharge (10%)
However the loan is then repaid early the following year.
Do you a) amend the previous CT return or b) reclaim the tax on the next CT return and lose the surcharge paid over?
Grossing up and paying income tax on CT.
The Ct return is late so surcharge (10%)
However the loan is then repaid early the following year.
Do you a) amend the previous CT return or b) reclaim the tax on the next CT return and lose the surcharge paid over?