sole trader – interest received on overpaid taxForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › sole trader – interest received on overpaid taxThis topic has 1 reply, 2 voices, and was last updated 13 years ago by Tax Tutor.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts May 28, 2011 at 5:32 pm #48717 susu123MemberTopics: 21Replies: 17☆For a sole trader, interest received on overpaid tax from HMRC is not taxable. Does that mean the interest won’t go in either trading income or interest income in income tax computation? Is it just not taxable anywhere at all? May 28, 2011 at 6:07 pm #82556 Tax TutorMemberTopics: 2Replies: 3965☆☆☆☆☆That is correct for a sole trader it is exempt income-but for a company it is taxed as interest income Hope that helpsAuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In