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Tax adjusted Trading Profits

This topic has 3 replies, 3 voices, and was last updated 8 years ago by Tax Tutor.

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November 9, 2017 at 11:44 am #414975
kiki3
Member
- Topics: 11
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Dear tuitor,
Please clarify Is Car parking fine expenses occurred by the proprietor during business traveling allowed expenses or not?
November 9, 2017 at 4:10 pm #415007
vrindaaghi
Member
- Topics: 2
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can i please reply while you wait from the tutors reply:
The car parking fines by the proprietor is never an allowable expenses for the purposes of computing TATP. However, car parking fines incurred by an employee whilst being on work is an allowable deduction.
Hope this sounds ok.
November 11, 2017 at 7:16 am #415200
kiki3
Member
- Topics: 11
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Thank you so much vrindaaghi. I understand it.
November 11, 2017 at 3:14 pm #415273
Tax Tutor
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Well done you two you seem to have sorted that problem out very nicely!
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