Will the change in company tax rate have an impact on February 2022 financial statements?

When an event occurred after the date of the financial statements but before the issued date, and this event will have a financial impact in the future, the fact should be disclosed in the financial statements in a note.

The tax rate was reduced from 28% to 27% for the year of assessments commencing on or after 1 April 2022. Accordingly, the income tax should not be amended for the year ending 28 February 2022, but this will have an impact on future income and deferred tax.


Yes, the change in tax rate should be disclosed in a note to the financial statements.