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This topic has 4 replies, 3 voices, and was last updated 6 years ago by Tax Tutor.

Viewing 5 posts - 1 through 5 (of 5 total)

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December 3, 2018 at 12:11 pm #486929
alikhakar
Participant
- Topics: 187
- Replies: 79
Why in the calculation for tax adjusted trading profits, the expense for legal fees incurred on issue of share capital is added back to profits ?
Share capital raised is for trading purpose only so it should be allowable no?
December 3, 2018 at 1:57 pm #486944
khanumishq
Member
- Topics: 46
- Replies: 21
Fee incurred in issuing new shares is not allowable.
December 3, 2018 at 2:10 pm #486947
khanumishq
Member
- Topics: 46
- Replies: 21
I just read Sir’s comment of not answering questions here, I’m sorry Sir.
December 5, 2018 at 2:57 pm #487552
Tax Tutor
Member
- Topics: 2
- Replies: 3965
No problem khanumishq – fees incurred in issuing shares is a capital cost not an item of revenue expenditure
December 5, 2018 at 2:58 pm #487553
Tax Tutor
Member
- Topics: 2
- Replies: 3965
No problem khanumishq – fees incurred in issuing shares is a capital cost not an item of revenue expenditure
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