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

About Anita Forrest

Anita Forrest is a Chartered Accountant, spreadsheet geek, money nerd and creator of www.goselfemployed.co - a website full of templates, guides and resources for UK sole traders. No faff. No confusion. Just simple straightforward advice on business registration, taxes and bookkeeping.