My Company Pay Late Corporate Tax Interest. Is that Interest Tax Allowable?

My company has paid interest on late-paid corporation tax. Is that interest tax allowable?

Yes. Interest paid to the Tax Office on late-paid corporation tax is tax allowable for the company for the period in which the interest was paid. Likewise, interest paid by the Taxman because corporation tax has been paid early, or in excess of the amount due, is taxable.

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