Can a close company deduct interest on a shareholder loan account where the amount is not known until after balance date?
This Question We’ve Been Asked sets out when a close company can deduct interest payable on a shareholder loan account in its tax return where the exact amount is not known until after balance date (usually 31 March).
Income Tax Act 2007 – ss BD 3, BD 4, DB 7, EA 4, RE 3, RE 4, RE 10, YA 1, YB 1, YB 3 – YB 14 and subpart EW