An Introduction to Tax Allowable Business Expenditure
- Price: £3.60
- Published: May 2015
- Type: Business Information Factsheet
- Format: PDF
All business proprietors need to be able to account for their business expenditure and to understand what expenditure HM Revenue & Customs (HMRC) considers allowable for tax purposes. The taxable profit of a business is calculated after all legitimate business expenditure is deducted, so correct calculation of it requires knowledge of which business expenditure can and cannot be claimed as an allowance against tax.
This factsheet explains what business expenditure is allowable for tax purposes and gives guidance about how to claim allowances for business and employee expenses. It also includes hints and tips and sources of further information.