ABC plc’s accountants have prepared the following IFRS income statement summary for the year ended 31 December 20X1: The following information is available about ABC’s profit before tax: Revenue includes a government grant of £10,000, which is not taxable. Expenses include fines of £4,000 paid by ABC plc during the period. The government does not allow tax-deductibility of fines. The tax rate for the period is 20%. What is the current tax expense reported on ABC plc’s P&L for the year ended 31 December 20X1?

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ABC plc’s accountants have prepared the following IFRS income statement summary for the year ended 31 December 20X1:

The following information is available about ABC’s profit before tax:

Revenue includes a government grant of £10,000, which is not taxable.
Expenses include fines of £4,000 paid by ABC plc during the period. The government does not allow tax-deductibility of fines.

The tax rate for the period is 20%.

What is the current tax expense reported on ABC plc’s P&L for the year ended 31 December 20X1?

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