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Writing-Off Tax- How is it calculated?

Kehoejck · 2008-07-05 14:56:16

For example I was told that here in Ireland a business can claim all interest on a loan against tax. Could someone possibly explain to me how this is calculated? I understand that interest is an expense in the profit and loss account. Any help from here would be great. Help is appreciated :)

05-07-2008 3:56pm

#1

Kehoejck

Registered Users, Registered Users 2 Posts: 94 ✭✭

Join Date: July 2006

Posts: 59

For example I was told that here in Ireland a business can claim all interest on a loan against tax. Could someone possibly explain to me how this is calculated?

I understand that interest is an expense in the profit and loss account. Any help from here would be great.

Help is appreciated

0

Comments

#2 05-07-2008 7:16pm

Macker18

Closed Accounts Posts: 4 ✭

Join Date: January 2008

Posts: 4

Afaik, you need to get an cert of interest paid from the bank for the period concerned - i.e. your companies year.

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