Philip Feibusch and Steve Watts of Bourne Business Consulting LLP consider the subject of 'tax nothings' in respect of retailers' capital expenditure
As a specialist tax consultancy advising on asset taxation issues we are often challenged by our clients about why certain capital expenditure incurred wholly for the purposes of their trade is not tax-deductible. This is particularly the case when the expenditure is incurred on an asset which may have been deductible in another trade or business. Items that are not tax-deductible are often referred to as 'tax nothings' which were defined in a Chartered Institute of Taxation paper in 2002 as: 'an item of expenditure or a loss which is incurred in connection with a taxable source of income or gains but which is not fully...
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Philip Feibusch and Steve Watts of Bourne Business Consulting LLP consider the subject of 'tax nothings' in respect of retailers' capital expenditure
As a specialist tax consultancy advising on asset taxation issues we are often challenged by our clients about why certain capital expenditure incurred wholly for the purposes of their trade is not tax-deductible. This is particularly the case when the expenditure is incurred on an asset which may have been deductible in another trade or business. Items that are not tax-deductible are often referred to as 'tax nothings' which were defined in a Chartered Institute of Taxation paper in 2002 as: 'an item of expenditure or a loss which is incurred in connection with a taxable source of income or gains but which is not fully...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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