I have a client who has started paying interest to an ex partner on a loan he has left in the business. My recloection was that this was paid net of tax - he got R185s to evidence the tax deducted - & the tax was paid over to HMIT using a CT61.
I have tried using the revenue web site but cannot find the CT61 or get notes that these are no longer used.
What is the correct proceedure???
Michael Page
Replies (2)
Please login or register to join the discussion.
Is CT61 relevant
as this is a partnership not a company?
Is this not D3 interest payable gross and allowable as a business loan?
Deduction of Tax
CT61 procedure is still applicable
Make an application to Accounts Office for CT61 return using CT reference and complete as normal (quarterly payment of 20% income tax)