The mark to market basis for financial traders and reducing tax
Any financial traders will be taxed on the annual profits as stated in their accounts. There will be tax adjustments to the profit figure in the accounts, but generally it is the accounting profit that would be the initial starting point. Therefore using the correct accounting policies can have a direct impact on the amount of income tax payable. This article looks at the use of mark to market accounting for financial traders in the UK . . . (to read the remainder of this article, please log in below.)
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