Forgive me, this is pretty basic stuff, but my CT knowledge is very rusty, and for all my Googling I'm going round in circles...
Company A makes a loan to company B for £100,000 at 5% interest. As far as I'm concerned the interest paid, one company to the other, is paid gross, but can I for the life of me find anything to confirm this! The best I've found is a mention of a change in FA2001 that seems to cover the situation, but is that still extant?
As a side question, does 'manufactured interest' have to be income from shares and securities, can it be from loans such as the above?
- Entrepreneur relief and deduction of Amortisation of Goodwill Pre2002 133 4
- Director owns 47% of shares in company A and 100% of shares in Company B. Is Company B a participator in Company A for S455 purposes? 203 2
- Stumped - IHT 370 6
- Taxation of sinking fund contributions 396 5
- No PAYE Registration but need auto enrolment 534 12
- Incorporate to utilise dividend allowance next year? 517 9
- Transferring DLA between Directors 303 3
- Company restructure - Share valuation, ERS and PAYE 127 2
- FHLs and Entrepreneurs Relief 111 1
- Creative Auto Enrolment 820 12
- HMRC now overriding SA bank repayment details on tax returns 1,392 35
- New LLP, basis of assessment and which boxes to complete? 127 3
- Rental losses on jointly owned property 262 4
- True Potential AE 281 2
- Closing down loss-making company 520 6
- CGT and primary residence 232 2
- Overpaid In Employers NI - RTI EYU for hundreds of employees 339 3
- Private doctors - Ltd company vs partnership 1,254 14
- VAT disaggregation 298 4
- Giving shares away 465 8