How can I categorise payments made to HMRC for my income tax? (Which should be a disallowable expense)
Hello Alexblackall94-g,
Welcome to the Community page,
If you want the HMRC payment to show as disallowable expense if you categories it as taxes and this would be allocated to disallowable under other business expenses in box 45. We would recommend checking with an accountant that they are happy with that
How can I categorise payments made to HMRC for my income tax? (Which should be a disallowable expense)
Hello Alexblackall94-g, so in the qbse product it gives you a partial template of the self-assessment form, the income and allowable and disallowable expenses you have to enter this info into a self-assessment form and submit it to hmrc. So the other business expenses in box 45 is on the actual form itself as you can see here.
How can I categorise payments made to HMRC for my income tax? (Which should be a disallowable expense)
Oh I see, thank you... so I can just create a Taxes category for now and then when it comes to actually completing the Self Assessment Form I can then split up expenses into 'allowable' and 'disallowbale'. Great, thank you for clarifying
How can I categorise payments made to HMRC for my income tax? (Which should be a disallowable expense)
I'm glad to hear you're able to get the help that you need with categorizing income tax payments, alexblackall94-g.
Don't hesitate to create a new post here in the Community forum if you have other QuickBooks concerns. We'll always provide answers and related articles to your questions.
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