Originally posted by Albert49
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Settling with HMRC - 10% off loans and salary as an expense
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Originally posted by Delendog View Post
It was off the loan total. If loan was 100K then 90K would be used as the loan value to take into the tax calculations.Comment
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10% was taken off the settlement figure I.e if amount to pay (settlement) was £20,000 and expenses were £5,000, the revised amount to pay was £19,500Comment
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My apologies to all, the premise that expenses are deducted from the loan amounts for the tax calculation is correct, I.e the expenses are not deducted from the settlement figure after the tax has been calculated, but from loan amounts before tax calculation - must have had (another) senior moment, they're getting more frequent.Comment
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