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I can never figure that out. Buying a round is not a legitimate business expense but I recon when you sell a round it's considered profit and you'll be taxed on it.
Paying a canvasser is tax deductable.
Quote from: M & C Window Cleaning on October 12, 2016, 06:42:54 pmI can never figure that out. Buying a round is not a legitimate business expense but I recon when you sell a round it's considered profit and you'll be taxed on it.I have a friend who just sold several very desirable rounds - he thinks it will be classed as a capital gain . I .... sorry meant he thinks your CGA tax allowance is circa £11000 as its goodwill basically
It will be interesting to hear their reply.
Buy the round with some equipment.
Quote from: Clever Forum Name on October 13, 2016, 08:19:02 amBuy the round with some equipment.As i understand it if you sell it with some equipment , for instance a van and system , it is then classed a s business being sold rather than just goodwill .
Its all so wrong. If it brings in a taxable income, then you should be able to claim it