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 - the UK small business finance blog for the self-employed community. Here she shares simple, straight-forward guides to make self-employment topics like taxes, bookkeeping and banking easy to understand.