Hi All,
Since loans seem to be the hot topic of the day.
If I was to take a loan from my Ltd and then pay it back (within the year) in installments at say 7% interest. Does that mean that the interest doesn't really matter to me because its going back my company?
Or does the 7% count as income for my company and therefore attract Corp Tax?
Many Thanks,
Alan
Since loans seem to be the hot topic of the day.
If I was to take a loan from my Ltd and then pay it back (within the year) in installments at say 7% interest. Does that mean that the interest doesn't really matter to me because its going back my company?
Or does the 7% count as income for my company and therefore attract Corp Tax?
Many Thanks,
Alan
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