Interest payable under trading profits

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May 22, 2026 at 4:09 am #731120
sayedaamal
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Is the interest payable related to acquiring property for business purposes an allowable deduction against trading profits?

Thank you.
May 22, 2026 at 12:53 pm #731121
AmandaP
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Yes.

Costs, including interest, on loans taken out for a TRADING purpose satisfy the ‘wholly and exclusively for the purposes of the trade’ criteria for the deduction of expenses.
May 22, 2026 at 3:33 pm #731122
sayedaamal
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Thank you for solving my problem once again.
May 22, 2026 at 4:56 pm #731123
AmandaP
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You’re welcome.
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