Sentence Examples

  • Lease rental payments are deemed by the Inland Revenue to be 100% expense allowable against taxable profits.
  • Certain agreements offer taxation savings as all rentals may be allowable against corporation tax.
  • Any element of the loan repayment relating to capital is not allowable against the rental income.
  • The initial cost of the herd and the cost of any additions are not allowable as trading deductions.
  • Although the employer contributions are allowable as a business expense, they are fully taxable to the member as a benefit in kind.

How would you define allowable? Add your definition here.

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