Sorry this is probably obvious but my brain is freezing up.
Client has made a loan, commenced Jan 14 repaid Oct 14, and charging interest on a monthly basis. Is interest chargeable to tax when accrued or paid? (first interest tranche not paid until July 2014).
edit: to add, this is an individual and query relates to SA return (tax has been deducted at source on interest but he is a higher rate tax payer)
Thanks for filling in my block!