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Reference Material as an expense.
In the expenses section what would I list reference material as?
I've bought documents which aren't quite books or journals but I'm told reference material is 100% tax deductible.
I've bought documents which aren't quite books or journals but I'm told reference material is 100% tax deductible.
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Inappropriate?Ryan,
Sorry to be a bit slow getting back to you.
We'd recommend you just enter those as Books and Journals anyway - they're 100% tax deductible as well.
If you're registered for VAT you'll want to set the correct VAT rate rather than sticking with 'Auto' - normally Books are zero-rated.
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