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Bank administrative charge tax deductible?
secret_tramp
Posts: 126 Forumite
in Cutting tax
Hi, I am self employed and inadvertently went overdrawn which resulted in an administrative charge being applied to my account.
My question is is this tax deductible?
I'm guessing it isn't but I'm not sure. Any advice gratefully received.
My question is is this tax deductible?
I'm guessing it isn't but I'm not sure. Any advice gratefully received.
0
Comments
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I would guess that it is.
In fact I would be 95% sure that it is, if its incurred for business reasons.Not Again0 -
Only if it's on a business account. If the charges were on your personal account, then they are a personal expense.£705,000 raised by client groups in the past 18 mths :beer:0
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Thanks everyone. The account is 100% a business account.0
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