Income tax query

This discussion addresses income tax implications for commercial building construction, specifically concerning expenses paid in cash versus via bank cheque. Key questions revolve around penalties for cash payments exceeding £10,000, the eligibility of such expenses for depreciation claims, and how to correctly account for cash payments in the construction account and balance sheet. The consensus leans towards disallowing cash payments over £10,000 for profit computation and denying depreciation on capital goods bought with cash.