Strike-off planning costs

Strike-off planning costs

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We have a limited company client who will be looking to strike off their company in the not too distant future & we are currently preparing their final set of accounts.

We have carried out some work towards strike-off planning for the extraction of profits & will be assisting the client to apply to Companies House for strike off in due course.  Are our fees for this work an allowable expense for Corporation Tax purposes?

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By luke potts
20th Aug 2012 13:35

Doubtful

I think it would be a bit doubtful based on the fact that the strike off and profit extraction (which I assume would be of personal benefit for the owners) doesn't really have anything to do with the trade or income from the trade where the expense would be offset. General accounts work for the final accounts would be allowable though so may be a case of splitting your fees out.

There is likely some case law on this somewhere I would have thought which someone may know of.

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