Dear Sir,
I have a question, if a sole trader provides his/her employee a private accommodation or car or beneficial loan... are the cost deductible as trading expenses in arriving tax adjusted profits? and also for Companies..
Regards
Ask the Tutor ACCA TX-UK
Trading income
You need to look at each individual cost to determine the tax relief available to an employer whether unincorporated or incorporated, for example if a car is provided to an employee then capital allowances will be available to the business along with deductibility for motor expenses.
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