Blogger
Share this content
0
2
7507

Allowable expenses

Dear All

Are VAT penatlties/surcharges an allowable expense in a company's accounts for tax purposes when calculating the CT liabilities?

Thanks

Replies

Please login or register to join the discussion.

No - see BIM31610

 

Kind Regards

John

Thanks (0)

General rule is that the usually the payments made to HMRC are not allowable. Further any fines and penalties for infraction of law are not allowable.

Thanks (0)