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Hi tutor,
I hope you are well.
I have been doing a practice question it is called “Jump Ltd” I have noticed that they have added back entertaining overseas and entertaining uk expenses… entertaining overseas is supposed to be deducted however it has been added..
Also I have noticed that the staff party expense is added despite it being 1,500 / 8 = 187? The limit is supposed to be £150.
All entertaining expenses will have been deducted when preparing the accounts. When you adjust those accounts for tax purposes you had back any expense which isn’t allowed.
Dont think too deeply at this level.
Entertaining staff is allowed and any other entertaining is disallowed and must be added back to net profit
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