Personal tax on loan interest. Can I pay gross?

[craigy1874]

You also need to complete and submit CT61 forms on a quarterly basis.

All in all, it probably isn't worth all of the hassle for the small amount of interest you will pay.

[MB2]

I think you can do CT61 annually but that is what we do on the DLA accounts. It is then claimed back via your friends SATR.

Our accountants said a loan was a commercial decision and felt up to 10% justifiable on a DLA balance but I would say the company should have a need for the loan to be able to justify it or at least be making good use of the money.

[craigy1874]

I think you can do CT61 annually but that is what we do on the DLA accounts. It is then claimed back via your friends SATR.

Our accountants said a loan was a commercial decision and felt up to 10% justifiable on a DLA balance but I would say the company should have a need for the loan to be able to justify it or at least be making good use of the money.

Don't think you can file CT61's annually.