Question
Why doesn't corporation tax calculation consider pension contributions?
Hello,
In the standard set-up P&L report there is a line for Corporation Tax that appears to be unaffected by the standard Directors' pension costs expense account. Why is that?
(I am not using QB for payroll, just recording an employer pension contribution allocated to a standard expense account:
Account Type
Expenses
*Detail Type
Cost of Labour
Use Cost of labour to track the cost of paying employees to produce products or supply services.
It includes all employment costs, including food and transportation, if applicable.
This account is also available as a Cost of Sales (COS) account.