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Business trip expenses for sole trader

  • 13-03-2009 9:13pm
    #1
    Yorky
    Registered Users, Registered Users 2 Posts: 1,485 ✭✭✭


    When a sole trader attends a trade show, is it classifed as a business trip and therefore any expenses incurred tax deductable?

    In the past they have claimed for travel related expenses only and not accomodation and food. Are all of these allowable?

    I've looked on the Revenue website but can't find specific answers.


Comments

  • #2
    Kinetic^
    Closed Accounts Posts: 13,249 ✭✭✭✭Kinetic^


    As long as it's relevant to the field they're trading then I would allow it. If it's a trade show in vegas followed by 10 days on the strip, I'd ask how many days were business ;)


  • #3
    Yorky
    Registered Users, Registered Users 2 Posts: 1,485 ✭✭✭Yorky


    So would all expenses be allowable: food, travel, accomodation ?


  • #4
    Running Bing
    Registered Users, Registered Users 2 Posts: 3,841 ✭✭✭Running Bing


    Doesnt the "wholly and exclusively" rule come into play? i.e. unless the expenses are incurred "wholly and exclusively" for the purpose of business they cannot be deducted.

    You need to eat and you need to sleep somewhere so its not really wholly and exclusively for the purpose of trade.


  • #5
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    Babybing wrote: »
    Doesnt the "wholly and exclusively" rule come into play? i.e. unless the expenses are incurred "wholly and exclusively" for the purpose of business they cannot be deducted.

    You need to eat and you need to sleep somewhere so its not really wholly and exclusively for the purpose of trade.

    No, I wouldn't agree.

    In the normal process of living in your own place, you cook at home, and sleep in your own bed. By and large, these are expenses you still incur whether or not you're on the road.

    Being out of the office and having to pay amounts over and above your normal outgoings count afaik.

    But say for example you brought your wife and kids along, you couldn't write off their expenses against tax (unless they were employees?).


  • #6
    Mr Clonfadda
    Registered Users, Registered Users 2 Posts: 372 ✭✭Mr Clonfadda


    If you are attending a trade show and doing nothing else all reasonable expenses are allowable.

    If it is trade show with a family holiday after that the percentage of the cost is allowable as a business expense, in the same way as you can claim a percentage of a home telephone bill if you have a home office.

    NB Reasonable expense rules out staying in the penthouse apartment flying first class and claiming that as expenses.

    check out http://www.revenue.ie/en/tax/it/leaflets/it54.html for a guide


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