An expense which you can deduct from your income or capital gains. For example, you can deduct allowable business expenses from trading income, and allowable rental expenses from the income from letting property. Your tax liability will be calculated on the net income (gross income minus allowable expenses) or on the net gains (gross capital gains ...
Found on
http://www.encyclo.co.uk/local/20949
An expense which you can deduct from your income or capital gains. For example, you can deduct allowable business expenses from trading income, and allowable rental expenses from the income from letting property. Your tax liability will be calculated on the net income (gross income minus allowable expenses) or on the net gains (gross capital gains ...
Found on
https://www.encyclo.co.uk/local/20956
No exact match found.
