Is Interest on Loan Allowable Expense

Is Interest on Loan Allowable Expense?

Is interest on Loan Allowable expense? Subject to certain conditions and restrictions. Tax relief will generally be available for interest paid on loans, or overdrafts. A business in the form of a deductible expense. Different rules for loan interest relief apply to smaller businesses using HMRC’s cash basis for income tax purposes (see below). You […]

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