Business Taxation 2005/2006 Osborne Book - allowable expenses ?
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Does anyone have answers to student activities without asteriks?
eg. 2.4 and 2.5?
Or can anyone tell me if the following expenditure is allowed for tax purposes:
1) bad debts recovery fees (I think YES as it is trading related expense)
2) overdraft interest and bank charges for authorised and unauthorised borrowing ( I don't think it should be allowed ... as it is more about financial management than trading... )
What do you think?
eg. 2.4 and 2.5?
Or can anyone tell me if the following expenditure is allowed for tax purposes:
1) bad debts recovery fees (I think YES as it is trading related expense)
2) overdraft interest and bank charges for authorised and unauthorised borrowing ( I don't think it should be allowed ... as it is more about financial management than trading... )
What do you think?
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Comments
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Re:Business Taxation 2005/2006 Osborne Book - allowable expenses ?
Yes to first, and yes to second if it was a business bank account - that is what I allow in the real world anyhow.
Claudia
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Re:Business Taxation 2005/2006 Osborne Book - allowable expenses ?
Hi Claudia,
Yes. you are right. Both are allowable
Thanks0