Disallowed Expenditure - Other Expenses Flashcards by Verity Russell | Brainscape

Q

Fines are generally

A

Disallowable

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Q

Parking fines incurred by an employee (not business owner) whilst on work business are

A

Allowable

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Q

Interest on borrowing for the purpose of trade (e.g business account overdraft) is…

A

Allowable

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Q

Interest on late paid tax is

A

Disallowable

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Q

Irrecoverable VAT is…

A

Allowable if it relates to allowable expenditure

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