Income tax

This discussion addresses how to account for a £15,000 monthly shop rent payment made in cash, which exceeds the £10,000 limit for direct P&L expenses under income tax rules. While the full amount may not be claimable in the P&L, the accounting entry involves debiting 'Shop Rent A/C' and crediting 'Cash A/C'. A suggestion was made to split the transaction for accounting purposes, potentially to better reflect the rules.