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Practice question 10 John

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Practice question 10 John

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Tax Tutor.
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  • Author
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  • October 27, 2020 at 9:53 pm #593306
    tanya888
    Participant
    • Topics: 1
    • Replies: 2
    • ☆

    Dear Sir,

    Firstly, thanks a lot for your lectures they are amazing.

    My question is:

    Note 6 for this question include
    – Legal fees in connection with an action by an employee for unfair dismissal £1,150

    I suppose the Fees and Penalties are disallowed expenses as per lecture notes.

    Do we have to add it back to the net profit?

    Kind Regards

    October 29, 2020 at 12:51 pm #593426
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    My apologies for not having included this item of expense in the answer and thank you for bringing it to my attention – I thought the answer had been updated to include zero adjustment for both this and the debt collection.
    Legal expenses to do with the trading activities of the business, for example dealing with employees and customers are allowable expenses – it is Fines (not fees) and Penalties that are disallowed.
    Legal expenses of a capital nature would be disallowed.

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