Coaching is a service right?

GinnyBee

Please can you settle an discussion for me that I'm having with colleagues.!

Payments for coaching and mentoring are:

Services
Goods
For business
Nothing to do with business.

Thank you :001_smile:

deanshepherd

Services - yes.
Goods - no.
For business - yes.
Nothing to do with business - yes.

GinnyBee

deanshepherd wrote: »

Services - yes.
Goods - no.
For business - yes.
Nothing to do with business - yes.

Thanks Dean, that's exactly what I thought

jamesm96

I'm really sorry if I'm totally missing something here... but they're 'for business' and 'nothing to do with business?'

Dean

jamesm96 wrote: »

I'm really sorry if I'm totally missing something here... but they're 'for business' and 'nothing to do with business?'

Is it a business isn't it a business - you decide? Badges of trade etc.

Is it taxable income - yes!

Regards

Dean

deanshepherd

jamesm96 wrote: »

I'm really sorry if I'm totally missing something here... but they're 'for business' and 'nothing to do with business?'

In other words, it depends.

Every situation will be different but you can usually argue a business case.