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admin fees and tax

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fatty

Post subject: admin fees and tax

Posted: Fri Jan 03, 2014 8:38 pm

Joined: Sat Aug 31, 2013 6:32 pm
Posts: 13

Hi im fairly new and after a bit of advice. I do a lot af account work and my base charges a 5% admin fee on all credit/ account work. Can I offset this admin fee against my earning with regards to my tax. Thanks im advance

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grandad

Post subject: Re: admin fees and tax

Posted: Fri Jan 03, 2014 8:50 pm

Joined: Tue Apr 03, 2007 11:27 pm
Posts: 19651

If you don't receive the 5% then it is not income. If you do receive the 5% and then have to pay it to the base it is a business expense and is deductible.

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fatty

Post subject: Re: admin fees and tax

Posted: Fri Jan 03, 2014 8:52 pm

Joined: Sat Aug 31, 2013 6:32 pm
Posts: 13

Thanks for a very simple answer grandad. No we never see this 5% so it doesnt count as being earned. Thanks for the quick reply

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wannabeeahack

Post subject: Re: admin fees and tax

Posted: Thu Feb 06, 2014 11:28 am

Joined: Tue Apr 29, 2008 4:06 pm
Posts: 24131
Location: Twixt Heaven and Hell, but nearest Hell

thats assuming you get an invoice for your rent....many wont provide one

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Of all the things ive lost, i miss my mind the most

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