why are taxes classed as disallowable expenses

I have paid all my taxes for year ending 2018 already and have set up a payment plan to pay taxes for this current year ending 2019.

However if I log these payments as Taxes on the self employed system it classes these an disallowable expenses.

Can you please explain why this is?

Answer

Hello there, Catherine Scate,

QuickBooks Self-Employed doesn't consider tax payment as an allowable expense. We're in line with how HMRC considers them as business expenses. The system calculates your taxes based on your income minus expenses.

You may also consult your accountant or legal adviser regarding this matter. Let me know if there's anything else I can be of help.

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IntuitMaryL , Community Support Specialist
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