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corporation tax – Loan interest received

Forums › ACCA Forums › ACCA TX Taxation Forums › corporation tax – Loan interest received

  • This topic has 1 reply, 2 voices, and was last updated 11 years ago by AvatarKyaw.
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  • November 27, 2014 at 2:44 pm #213834
    AvatarKamila
    Member
    • Topics: 16
    • Replies: 10
    • ☆

    Loan interest receivable 32800
    accrued at 1 april 2013 10600
    accrued at 31 march 2014 (11300)
    ———–
    loan interest received 32100

    loan made for non-trading purposes

    The question is to prepare a corrected version

    N in some questions we would have taken the whole amount n calculated but in this sum only 32800 is taken .
    what are the rules regarding this interest receivable ?

    November 27, 2014 at 5:18 pm #213898
    AvatarKyaw
    Member
    • Topics: 31
    • Replies: 37
    • ☆☆

    10600 is related to 2012-13. Loan intrest received 32100 includes intrest of 10600. which relates to 2012-13. Therefore what we received for 2013-14 is 21500 (32100-10600).
    Intrest related to 2013-14 is 32800 (21500+11300)

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