Business structures

Partnership agreements

Did you know that if you have no partnership agreement, then the provisions of the Partnership Act of 1890 apply? Make sure you have a partnership agreement and that it is up-to-date.

Business deductions

In order to attract a deduction in computing the profits of a trade or business any expenses must be incurred wholly and exclusively for the purpose of the trade. Capital expenditure is not an allowable expense (capital allowances are claimed on these costs), and certain other expenses are barred by statute.

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