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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15976
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I'm a sole trader and purchased stock with my personal

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Hello, I'm a sole trader and purchased stock with my personal credit card. I would like to record it as my personal loan to the company.
Can I record loan repayments as allowable expenses?
Where should I record loan in companies Tax return?
Thank you
Hi. You say you are a sole trader and then mention a company. Do you trade through a limited company or are you trying to complete the SA103 self-employment pages of your tax return?
Customer: replied 2 years ago.
I am self-employed and do Tax Return Online
Customer: replied 2 years ago.
Yes, it is SA103S
Thanks. You can claim loan interest but only the proportion that relates to the expenditure on stock. So, if you use your credit card for non-business spending, you will need to split the interest between the two types of expenditure which may be a difficult calculation. As for the box you put the interest charge in, it will be either box 17 of the short self-employment pages here or box 26 of the full self-employment pages here. I hope this helps but let me know iof you have any further questions.
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