How is interest calculated on liabilities disclosed under the LDF?
Interest should be properly payable in accordance with UK law and must take account of the increased liabilities on the payment on account that should have been made for subsequent years. For example, if tax is increased for 1999-00 you will need to consider the adjustment required to the payments on account for the following year (2000-01) due on 31 January 2001 and 31 July 2001.
Related Questions
- The precise amounts of assets and liabilities will not be calculated by the date the annual statement is due. What should I do?
- I failed a pre-professional course, repeated it and got a better mark. How will my pre-professional GPA be calculated?
- How is the balance calculated for "Assets" and "Liabilities"?
