Tax on sale of subsidiary

Farris, John; Holgate, Peter
May 1994
Accountancy;May94, Vol. 113 Issue 1209, p98
Trade Publication
This article explains that Great Britain accounting law requires that the profit on sale of a subsidiary company to be shown separately on the face of the profit and loss account after operating profit. Financial Reporting Standard Three and the Companies Act require disclosure of circumstances that affect the overall corporate tax charge.


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