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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › self-employment income fro tax purposes
sir interest paid to owner on his capital invested, should be finance cost and finance costs are allowable deductions against income. so i want to understand why former is being disallowed from deduction against trading income, in case of self-employment income.
thank you
Noah you really must look at notes and lectures before asking questions on issues that are clearly stated in both – please look in study notes, page 49, chapter 8 on partnerships, section 2 note (b)