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IAIN MACLEOD explores whether parking fines incurred by businesses are allowable for tax
KEY POINTS
- Parking fines are a big cost for some businesses.
- HMRC have traditionally refused tax relief.
- Tax cases may not support HMRC’s position.
- Different nature of parking charges.
More than three million parking tickets charging some £100 million are issued each year.
Many of them are paid by businesses. While to some they are no more than a minor frustration for other businesses parking tickets and fines can amount to a significant annual cost and in some cases to hundreds of thousands of pounds.
For many companies that rely on delivering their products or services to the customer parking fines are an unavoidable part of doing business. Do such costs qualify for tax relief?
HMRC’s current stance suggests not. However the issue is not clear-cut.
No relief from HMRC
HMRC’s Business Income...
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