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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › question

  • This topic has 1 reply, 2 voices, and was last updated 6 months ago by Tax Tutor.
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  • July 14, 2022 at 11:26 am #660462
    xyzc
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    • Topics: 352
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    Is all interest receivable is assessed as interest income or where there is a trading loan relationship the interest receivable is added to the trading profits

    July 18, 2022 at 1:09 pm #661141
    Tax Tutor
    Member
    • Topics: 2
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    • ☆☆☆☆☆

    There will not be a trading loan made by a company in your exam and therefore all interest receivable will be classed as interest income. There may however be loans taken out by a company that may be either trading or non trading so it will be an issue when dealing with interest payable as explained in the notes and lectures.

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