allowable expenditure for self-employed

AAndy6y ago

Dear Sir, I understand that fines/penalties incurred by employees while parking is an allowable expenditure both for company and employee, but i wanted to know one thing, the penalties/fines will be allowable right, whether the car belongs to the employee, employer or a pool car, as long as it is the employee who is responsible for improper parking the fines levied would be allowable for the company and the employee? am i correct sir?

TTTax Tutor6y ago#1

The parking fines of an employee when on business duties will be an allowable expense when paid by the employer whether the employer is a self employed trader or a company, but not if incurred by a director of the company

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