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Hello, on Page 44 notes (m), saying interest paid on overdue tax is not deductible, however on the Revenue website saying in terms of late payment interest for corporation tax, it is tax deductible, which means companies can add this charge to their company accounts for the tax year. is what said in the notes applies to sole trader & partnership only? Thank you.
First things first. Do not go checking tax information on the governement website. You are taking TX to pass a tax module for your ACCA qualification.
Stick to the information in the manual as it has been given specifically to help you to pass this exam. The notes on page 44 are correct for individuals and do ot get your taxes (CT/IT) mixed up
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