A self-employed client opened a Theatre School and paid £11 400 for the franchise. Should this expense be capitalised or treated as revenue spend ?
DependsOn what he gets for the fee and how it's spilt in the agreement / invoice. Would need more info
UK personal allowance for US resident
I have a client who lives in the US but hasn't earned anything over there.
She owns a property in London which is rented out and receives income from royalties etc in the UK. If I note on her tax return that she is non-resident in the UK, she loses the personal allowance and ALL UK income becomes taxable.
Is there any way around this ?