CTM92320 - Corporation Tax self-assessment (CTSA): the payment obligation: credit interest and repayment interest are taxable
Credit interest, and repayment interest on repayments for CTSA accounting periods, are taxable. »Ê¹ÚÌåÓýappy should be brought into account as non-trade credits under the loan relationship legislation (FA98/S34, FA98/SCH4/PARA7, and also CTA2009/S479)).
»Ê¹ÚÌåÓýapp formulae for setting interest rates do not contain an adjustment for tax. »Ê¹ÚÌåÓýapp formulae are at SI1990/1297 Regulations 3BA and 3BB, inserted by SI1998/3176 Regulation 8.