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UK tax question-allowable expenses?


Can you claim the cost of a trip abroad, that while it was part of your business, was largely funded by money that was a gift?

It does not matter where the money came from. If the trip was wholly for business, then you can claim a deduction in your accounts. The gift which funded the trip should be shown as capital introduced.
EDIT: Stormydays is incorrect - a gift is a gift and not trading income. You should always show your full trading income and expenditure in your accounts - if you have a separate business account, this would be foolproof.

You have two ways you can show it for tax purposes

Either take a percentage (say 50%)of the total expence and claim that

Or

Claim the whole amount as an expence but also show the gift value in your income/sales

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