I'm a sole trader whose main business is as a consultant. This is where my main business expenses occur as well....transport, office equipment etc..
I am taking a short term contract to do something that is entirely unrelated to my main activity. Can I use my business expenses from my main activity to lessen my taxable income gained from my short term contract. I doubt it, but would appreciate some confirmation from somebody in the know.
I am taking a short term contract to do something that is entirely unrelated to my main activity. Can I use my business expenses from my main activity to lessen my taxable income gained from my short term contract. I doubt it, but would appreciate some confirmation from somebody in the know.