An LLP which owns a single property and receives rent on that property. It has no other activities or trade.
There are 6 members who live in different parts of the UK and who meet once a year in connection with the LLP and incur travel and subsistence costs in getting to that meeting.
If the LLP reimburses these costs are they allowable as deduction for tax?
Replies (1)
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Yes - I think so
Assuming that the meeting is for the purpose of the rental business and not an excuse for a family knees-up I can't see any reason why the travel and subsistence costs should not be tax deductible.