Statement of Interest

Northants_Simon

I have finance on my car which was purchased for business use (I'm a sole trader). In the past I have phoned and asked for a statement of interest at the end of the year, I can then use this when doing my end of year accounts for the business.

In the last year the finance company have been taken over by Lloyds TSB, on phoning them and asking for a statement of interest I was told they can't give me this and have already sent a statement. The statement I have just shows how much I'm paying each month, and isn't split to show the interest.

All I need from them is a figure to say how much interest I paid in that year, they say they can't provide me with this. When I said I had them in the past, I was informed it's not Lloyds policy to provide an interest statement.

I can't complete my accounts without this figure as I claim capital allowances on the car and the interest charged.

Am I within my rights to demand they provide this information? I wouldn't have though it's an unusual request to ask how much interest they have charged me?

Consumerist

I suggest you put your request in writing.

jonesMUFCforever

Does the statement not show interest charged (monthly)?

Consumerist

jonesMUFCforever wrote: »

Does the statement not show interest charged (monthly)?

If interest on savings is anything to go by, HMRC may require the satement of interest charges to come from the lender in the form of a certificate.