The difficulty regarding payments to trade associations lies in deciding whether the expense is incurred in earning profits or after profits have been ascertained. To the extent that payments fall within the former category, they are deductible. The test applied by the courts is whether or not the expenses which the association meets out of the subscriptions would have been deductible if incurred by the traders themselves.

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.