Business deductions

In order to attract a deduction in computing the profits of a trade or business, direct costs and running expenses must be incurred wholly and exclusively for the purpose of the trade.

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McKenzies is registered to carry on audit work in the UK and is regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. A list of partners’ names is open to inspection at 2 Station Road West, Oxted, Surrey RH8 9EP. Copyright © McKenzies. All rights reserved.