I need to prepare a CT61 for a company paying a director £5000 net. I understand the CT61 has to show £6250 gross with £1250 tax deducted and £5000 net
What figure do I show in the P&L as interest paid, is it the net of gross figure and is this CT deductible in full?
If gross is the journal simply Dr Interest CR Bank with the £6250??
Thanks in advance everyone