Taxable Profits

Taxable profits are used to calculate tax. Adjustments need to be made to trading profits because certain expenses are treated differently for tax purposes.

These types of expenses include:

  • Depreciation
  • Entertainment
Anita Forrest
About Anita Forrest

Anita Forrest is a Chartered Accountant, spreadsheet geek, money nerd and creator of www.goselfemployed.co - a UK small business finance blog where she shares help and advice with the self-employed community to make topics like registering a business, bookkeeping and taxes easy to understand.