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are finders fees deductable?

PTL · 2005-10-07 16:46:43

thanks to everyone here who helped me to register for corporation tax. now ive another question I have an insentive to clients and friends to get contracts for me, basically they pass on my name to someone and if that someone takes up a contract i give them a percentage, small enough but nice for just giving my name and…

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07-10-2005 5:46pm

#1

PTL

Registered Users Posts: 253 ✭✭

Join Date: March 2003

Posts: 222

thanks to everyone here who helped me to register for corporation tax. now ive another question

I have an insentive to clients and friends to get contracts for me, basically they pass on my name to someone and if that someone takes up a contract i give them a percentage, small enough but nice for just giving my name and number.

So can i claim this as an expense? say the contracts 10,000 and they get 3% thats 300euro to them ... do i just write a cheque to there name and give it to them or can i buy a voucher for somewhere and put it down as a finders fee or do i just have to give them it out of my pocket

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#2 07-10-2005 10:43pm
The Corinthian

Closed Accounts Posts: 19,777 ✭✭✭✭

Join Date: June 2001

Posts: 19153

Do up an invoice on their behalf calling it sales commission or similar. Get them to sign and date it. Alternatively just ask them to invoice you for the money.

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