Financial Ov
ervie
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HORSE SPORT IRELAND
Annual Report
2015
80
Horse Sport Ireland
(A company limited by guarantee)
6. Taxation
2015
2014
Corporation tax
Current tax on surplus for the year
1,875
596
Adjustments in respect of previous periods
8,883
-
10,758
596
Total current tax
10,758
596
Taxation on surplus on ordinary activities
10,758
596
Factors a ecting tax charge for the year
The tax assessed for the year is higher than 2014 and higher than the standard rate of
corporation tax in Ireland of 12.5% (2014 -12.5%). The di erences are explained below:
2015
2014
Surplus / (deficit) on ordinary activities before tax
27,548
(100,227)
Surplus / (deficit) on ordinary activities multiplied by standard rate of
corporation tax in Ireland of 12.5% (2014 -12.5%)
3,444
(12,528)
E ects of:
Expenses not deductible for tax purposes
(274)
993
Capital allowances for year in excess of depreciation
478
(957)
Utilisation of tax losses
(1,773)
13,088
Adjustments to tax charge in respect of prior periods
8,883
-
Total tax charge for the year
10,758
596
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