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The deferred tax working paper is an account template which is automatically assigned to your deferred tax nominal accounts.

So how do you complete it? 

1. Use the # functionality to pull in the fixed asset nominal accounts. This will calculate the NBV of your fixed assets.

2. Deduct the NBV of fixed assets that do not attract capital allowances. This is a manual input box. Please be sure to enter a negative value.

3. Fill in the details of any other adjustments that need to be accounted for.

4. Enter the details of the tax written down value for the period.

5. Enter the trading losses carried forward from the prior period.

6. Fill in the details of any other tax timing differences.

7. The default percentage is set at 19%. You can manually overwrite this by clicking on the value if required. For example, if you are completing the deferred tax reconciliation for a prior period where the rate differed.