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Avoid UK Tax Problems By Knowing What Business Expenses Are Disallowed |
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Written by Webmaster
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Monday, 02 June 2008 |
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By Terry Cartwright
The costs of goods, materials or services purchased by a business which are for private use are not allowable for tax purposes. The disallowed element also applies to goods and materials bought for business use which are subsequently used for private use.
Payments made by the business for none business work are not allowed.
A limited company can claim the wages and salaries of directors as a valid business expense. If the business is self employed then the ....
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Last Updated ( Monday, 02 June 2008 )
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