David Lock

Is interest paid on a business loan tax deductable please i.e. an acceptable business expense?

Thanks, David

Kev_turbo

Yes

addi monster

iTrader: (6)

+1

Chip

Here you go old boy

http://www.businesslink.gov.uk/bdotg...type=RESOURCES

millsy3

iTrader: (1)

yes, wife says yes also my accountant.

Gordo

Yes, when either cash paid or PIK notes are issued.

David Lock

Thanks guys - aren't tax returns fun

d

zip106

Never filled one in yet.
Only work in cash - you ain't seen me, roight?

Chip

Use an accountant you tight git.

dpb

Just started mine, theres just no thrill doing it in mid july

zip106

Just been fined £100 by HMRC, for not telling them in time that I had no sub-contractor tax to pay them last month.

*******s.

JackClark

Did mine today. It's always fun, good result this year.

Trout

iTrader: (1)

Not as much fun as getting your personal and corporate returns all coming at once

dpb

finished mine today as well , or at least iv let my accountant go over it to submit

Btw Mate hasnt filed one in 5 years - never earns enough to pay any he maintains ( and i believe im )

Presumably if this is case the fine is irrelevent

hodgy0_2

he will get fined though -- even if he owes no tax (as long as he gets a Tax Return that is, and fails to fill it in and send back)

dpb

yeh but if never gets to the point where hes over the the threshold , how are they going to get it out of him

David Lock

I can imagine - and what with paying all that 50% tax

Don't forget the jet as a cororate expense.........


dl

dpb

what about the gt3 rs !

Dunk

iTrader: (1)

They'll take it to court, he might sit next to Kerry Katona

D

dpb

he'd be thrilled !