The two thirds rule applies to a transaction which at first sight appears to be the supply of a service may nevertheless be taxed as a supply of goods if the value of the goods supplied in carrying out the work exceeds two-thirds of the total charge. Therefore, instead of 13.5% applying 23% applies to the…
Return on capital employed or ROCE is a profitability ratio that measures how efficiently a company can generate profits from its capital employed by comparing net operating profit to capital employed. In other words, return on capital employed shows investors how many euros in profits each euro of capital employed generates. This ratio is based on two…
Normal business expenses incurred in carrying on a trade are deductible before the USC is calculated. This includes allowances for capital expenditure incurred on providing certain items for the purposes of the trade, such as Plant and machinery Vehicles used for business purposes Certain types of buildings, such as factories or farm…
