Application for MIP License

Lindsayw77Lindsayw77 Registered Posts: 3
I am after some advise on what i can add to my application for my Application for MIP License.

Business Income Tax section:
Doesn't business tax cover all other taxes which I have already completed in the other sections: Personal Tax, Corporation Tax, VAT, CGT, and IHT?!!

Any help would be much appreciated.

Comments

  • readerreader Experienced Mentor MAAT, AAT Licensed Accountant Posts: 762
    edited February 13
    I think business income tax just covers things like capital allowances, making adjustments to taxable profits (eg depn, business entertaining), overlap profit for sole traders and partnerships, etc.

    I corporation tax is more to do with associated companies (51% relates companies), paying CT in instalments if profits are > £1.5M, apportionment of profits across financial acts, loan relationships, CT penalty regime, etc.
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