S360 ICTA 88

Client has lent a large sum of money to the company which he runs, and is being paid interest by the company. Interest is correctly taxed and returned under CT61s and will be declared as income.

BUT he has incurred interest on a loan taken out solely for the company use, and I believe he's entitled to offset that interest under S360 ICTA 88, so where does this claim go on the return?

Ian Clark

Comments
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Box 15.1

stephenkendrew |

Agreed

deanshepherd |