Q *qwerty* Free Member Jan 30, 2008 16 0 Jan 16, 2013 Original Poster #1 I'm a sole trader and have a business bank account, can charges be offset against profits at the end of the tax year?
I'm a sole trader and have a business bank account, can charges be offset against profits at the end of the tax year?
Paul_Rosser Free Member Jul 5, 2012 4,567 1,107 London and Essex Jan 16, 2013 #2 Provided you haven't incurred any charges due to overdrawing of profits then yes you can. This should explain a bit more - http://www.accountingweb.co.uk/topic/tax/bank-charges-and-interest-rebecca-benneyworth Last edited: Jan 16, 2013 Upvote 0
Provided you haven't incurred any charges due to overdrawing of profits then yes you can. This should explain a bit more - http://www.accountingweb.co.uk/topic/tax/bank-charges-and-interest-rebecca-benneyworth