This is a question which regularly pops up from new clients who are doing their own book-keeping, are your accountants fees an allowable expense? You will be glad to know that by and large, yes, your accountants fee is an allowable expense, but read on to find out when it might not be!
Lets say you are employed as a plumber, and have an income from some rental property you were left by a deceased relative. Its been a very busy year at work, you have received a pay rise to £70,000 , and now need to consider the Child Benefit Clawback.
In this scenario, it should be possible to claim the accountancy fees for preparation of the accounts, however work carried out regarding the Child Benefit Clawback has nothing to do with the property rental business, and is therefore should not be an allowable expense.