Someone I know has been trying to fill their SA Tax Return in on the Inland Revenue site and was wondering where the following would go.
He has a small media company and has paid someone to do an audio recording for him as part of a bigger project. Now would that be classed as labour costs, professional fees or other business expense on the tax return?
Also things such as business cards and advertising would they be classed as stationary or other?
They don't give you that many options on the tax return form do they!
So the labour costs would be put into the 'Wages, Salaries, Other Staff Costs' box on the tax return? and the advertising would that go into the 'Telephone, Fax, Stationary and Other Office Costs' OR 'Other Allowable Business Expenses' ?
I've not really dealt with a tax return yet so please excuse my simple questions :)
I find it funny that we spend forever analysing the expenses for the Profit and Loss report and then combine them all for the tax return! Oh well, HMRC knows best
