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Trading profit

This topic has 1 reply, 2 voices, and was last updated 5 years ago by Tax Tutor.

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July 15, 2020 at 3:47 pm #576897
chjillani
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legal fee connecting with the purchase of the shop is allow are disallow?
July 15, 2020 at 5:07 pm #576911
Tax Tutor
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Look at the notes and the lecture – legal expenses in connection with a capital cost are not allowable deductions against trading income – they are capital costs and will instead be deducted as a capital cost in computing any chargeable gain on disposal
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