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Tax exspenses

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Author Topic: Tax exspenses  (Read 92 times)
Newbie
Posts: 23

I like property

« on: August 03, 2020, 12:59:38 PM »

As im a 40% tax payer, do I receive 20% or 40% back on allowable expenses?
Global Moderator
Sr. Member
Posts: 468

I like poetry

« Reply #1 on: August 03, 2020, 01:07:52 PM »

40% - that is to say, you take your income, knock off the allowables and then that's what gets taxed at your marginal rate of tax.
Newbie
Posts: 23

I like property

« Reply #2 on: August 03, 2020, 02:29:40 PM »

Thank you :D
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