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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15933
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I'm self employed and used a credit card to pay off part of

Resolved Question:

I'm self employed and used a credit card to pay off part of my tax bill in January. Can I claim back/offset the interest that has accrued from this payment in this years accounts?
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi. I'm afraid not. You used your credit card to pay part of your tax bill. Your tax bill isn't an expense incurred "wholly and exclusively" for business purposes. In fact, it's it's not an expense at all. I hope this clarifies things for you but let me know if you have any further questions.
Customer: replied 1 year ago.
Great thanks, ***** *****'t think so but couldn't find an answer to clarify : )
Expert:  TonyTax replied 1 year ago.
Thanks.
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