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The UK has laws that prevent all of these things AND still has corporation tax. Expensing anything is difficult as it must be solely for the business purposes
by CaptainMarvel 6y ago
The UK has laws that prevent all of these things AND still has corporation tax.
Expensing anything is difficult as it must be solely for the business purposes and not personal use.
For example, you cannot generally expense food, clothes, housing, education etc. (You can probably expense an insignificant part of that though under some circumstances.) It’s not possible to take loans for extended periods of time without them actually counting as income for individuals (and being subject to income tax).