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Will you please explain why the following expenses aren’t allowable, i.e. we do not deduct them from net profit:
– accountancy
– a trade subscription to the Guild of Small HairdressersCONTEXT:
Na Style commenced self-employment as a hairdresser
– The figure for professional fees consists of £390 for accountancy and £1,260 for legal fees in connection with the grant of a new five-year lease of parking spaces for customers’ motor cars.-The figure for other expenses of £16,550 includes £400 for a fine in respect of
health and safety regulations, £80 for a donation to a political party, and £160 for
a trade subscription to the Guild of Small Hairdressers.Those expenses ARE allowable and would therefore be a zero adjustment!! The other expenses you list are the disallowable expenses and therefore the ones to be added back in the ADJUSTMENT of profit!!
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