Disallowable expenditure: Difference between revisions
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Amounts paid out by a taxpayer which are not eligible for tax relief. | Amounts paid out by a taxpayer which are not eligible for tax relief. | ||
Revision as of 14:17, 15 May 2014
Tax.
Amounts paid out by a taxpayer which are not eligible for tax relief.
Such amounts charged to accounting profits would be added back to the accounting profits, in the calculation of taxable profits in the taxpayer's tax computation.
For this reason they are sometimes known as 'addbacks'.
