Commentary

B2.401 Deductible trading expenses—overview

Business tax
Business tax | Commentary

B2.401 Deductible trading expenses—overview

Business tax | Commentary

Division B2.4     Trading expenses—specific items

For updates affecting this Division please see Part B0 Updates

Which expenses may be deductible?

B2.401 Deductible trading expenses—overview

The general principles to be applied in determining whether an item of expenditure may be deducted in computing the profits of a trade, profession or vocation assessed are set out in detail in the following Divisions:

  1.  

    •     Division B2.3 Trading expenses — general principles of deductibility

  2.  

    •     Division B2.3A Trading expenses — capital vs revenue

  3.  

    •     Division B2.3B Trading expenses — incurred wholly and exclusively

The relationship between rules prohibiting certain specific deductions and those allowing deductions is

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