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Bounce Back Loan As Expense
gunner786
Posts: 276 Forumite
Can we use the bounce bsck losn repayments as an expense in our tax returns?
0
Comments
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Only the interest, not the capital. You didn't count the loan as a taxable receipt, so can't expect a deduction for repaying it.1
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And the first year is interest free, so only for tax year 21/22.No free lunch, and no free laptop
1
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