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Hi

I am preparing first time accounts of a community interest company. Company’ only source of income is three different revenue grants for general purposes from council in total £ 16500 and total expenses is around £1600 for the year. Would it be ok if I recognise all the grants to PL in the current year? If yes then CIC will have to pay CT? Or can I consider any grant as a deferred income to defer the tax payment? I will be very thankful to you if u please help me in this regard. Regards |

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