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Advance payments from EU
by geolog at 16:51 23/03/15 (Ask-Legal-Accounting)
My company has received an advance payment from EU on a 3-yr project. Question about corporation tax treatment.
Although it's in our bank, they make it clear that the money belongs to EU until payment is justified by timesheet/expenses claims. Question: am I right in assuming that the only money subject to CT is the amount actually claimed?
Does the remaining unclaimed amount of EU cash have to be reported anywhere in the company accounts?
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geolog


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