Cost of purchased round - Tax Relief/Expenses?

[Barry Williamson]

Hello, sorry if this has been covered before but I couldn't see that it had...I recently supplemented my round with buying some extra work, and just trying to figure what it is classed as for my tax return.  Its not really a legal cost, so I wondered if it would be classed as reselling goods (like the work itself is a raw material?) - any suggestions you've got would be great thanks!

Barry

 

[Part Timer]

As far as I know, never bought a round before, it's not tax deductible when you're buying one as all you're buying is good will. However if you sell any it is taxable.

 

[scottish cleaning service]

As far as I know, never bought a round before, it's not tax deductible when you're buying one as all you're buying is good will. However if you sell any it is taxable.

I thought you were talking about the pub and it was yesterday morning. ?

 

[Jango]

Like part timer said it’s not tax deductible. If you speak to your accountant he will tell you. 
 

 

[Barry Williamson]

Thanks guys