Date: Wed, 20 Jun 2007 19:21:39 +0100
From: Alan 
Newsgroups: uk.finance
Subject: Re: net and gross profit
Bytes: 1834

Alan Ferris wrote:

> 
> Why?  If it is still allowable but as an overhead it will make no
> difference to the tax liability.

Well I may be missing the point but if you wish to charge an item as an 
expense thereby effectively reducing your profit but the IR disagree you 
may be faced with the scenario that you have two profit figures - your 
real profit and what the IR consider to be your profit which will be 
potentially higher and subject to increased taxation.

If I am wide of the mark then please educate me :-)

A