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B2.401 Deductible trading expenses—overview


Business tax

For updates affecting this Division please see Part B0 Updates

Which expenses may be deductible?

B2.401 Deductible trading expenses—overview

The general principles to be applied in determining whether an item of expenditure may be deducted in computing the profits of a trade, profession or vocation assessed are set out in detail in the following Divisions:

  1. Ìý

    •ÌýÌýÌýÌý Division B2.3 Trading expenses — general principles of deductibility

  2. Ìý

    •ÌýÌýÌýÌý Division B2.3A Trading expenses — capital vs revenue

  3. Ìý

    •ÌýÌýÌýÌý Division B2.3B Trading expenses — incurred wholly and exclusively

The relationship between rules prohibiting certain specific deductions and those allowing deductions is summarised in B2.302.

In calculating trading profits, no deduction can generally be made for expenditure of a capital nature,

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