Ostroff, Fair and Company
*Ostroff, Fair and Company>>>United Kingdom Taxes

Under corporation tax rules, is theft by an employee an allowable expense?


Looking at an exam paper, so FA2005 rules apply.

noCommon sense dictates that this isn't an expense. An expense is some you spend money on to get goods, or services. This is considered a LOSS, and it is a legitimate deduction for tax purposes.
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