There are other threads talking about getting expense deductions (of ~10%) agreed by HMRC for use in CLSO2 settlement. In that case, they reduce your taxable loan amount, and send you an updated settlement contract (with the reduced amount).
However, does anybody know if expense deductions can be applied to the *Loan Charge* amounts declared on the 18/19 self-assessment tax return (due by 30th Sep)? And if so, what the mechanics of doing this would be (e.g. provide the net amount, or detail the expenses separately somehow)?
However, does anybody know if expense deductions can be applied to the *Loan Charge* amounts declared on the 18/19 self-assessment tax return (due by 30th Sep)? And if so, what the mechanics of doing this would be (e.g. provide the net amount, or detail the expenses separately somehow)?
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