The total of all future taxable amounts is multiplied by the enacted tax rate to determine the appropriate balance for the deferred tax liability account.
Therefore, the rate of 26% should continue to be used to calculate any deferred tax assets and liabilities as of 31 March 2021.
If the impact is considerable, disclosures in conformity with FRS 102:32 are going to be necessary.
Changes to tax rates are typically considered adopted after the pertinent measure has been given Royal Assent.
The impact of a change in rate is reflected in the time in which the changes are considered "substantively implemented" or "enacted," counting on which term is used.
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