IR10 question.

[richard56]

Hi
I am having trouble understanding which figures to put in to this box



Box29... Total current year taxable profit

The guide says


"Enter the taxable profit figure from the tax return.
Exclude interest and dividends not shown in the accounts".

Where on an IR7L would this "taxable profit figure" be?

Thanks
Richard

[richard56]

Hi
Am I correct in thinking that "Enter the taxable profit figure from the tax return. " would mean you use box 31A in a IR4 or box 23 in
the IR7L
Richard

[Perry]

I suspect that many on here use an
accountant and would have no real
familiarity with most IRD forms.

Mea culpa.

[Re@der]

All on the IR 10
Box 29 = Box 11 - box 28 ie Total income - Total expenses = Total current year taxable profit

IR10 is a statistics form providing a general summary of information and "shouldn't be used to calculate business income" it still has to be accurate because it is used with your return.

[richard56]

Hi
Box 29 = Box 11 - box 28
That the way I though as well.
Thanks for the info..I did work out my total income and total expenses using my spread sheet before doing the IR7L.
It is not too hard if you keep good records and work through it methodically.
Richard