What are tax allowable and non-tax allowable items?
You may deduct the running costs you incur solely for the purpose of your business. These include the cost of: • Goods bought for resale; • Employee wages; • Rent and overheads of the premises you use for the business; • Stationery; • Running vehicles used for the business. The first 4,250 you earn from letting a room in your own house is tax free (2,125 if letting jointly).
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- What are tax allowable and non-tax allowable items?
