Hello,
-"Accountancy fees for preparing accounts"
1. Could you explain how the expense should not be added back to the trading profit of a sole trader'
- As a general principal, where an expenditure is incurred for the purpose of trade, the expenditure is allowable. So how the accountancy fees is related to trade?
Thanks
Ask the Tutor ACCA TX-UK
Trading Income
This is a business expense like any other admin expense - if the fees were for preparing the personal tax computation of the individual then they would disallowed
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