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Posted Fri, 07 Oct 2022 10:05:59 GMT by littletiger
i have been in a partnership and due to the change of business outlook, i was asked to make a significant contribution to the partnership's capital. I did not have funds available to contribute. In the end I managed to apply for a partnership capital loan using my house as a collateral. i have two questions, 1) where should I put down the interest from the partnership capital loan on SA form? 2) due to the complex nature of the loan, there is a consulting fee associated with the loan charged by the bank for their consultancy/advisory work. Is this allowed to be booked an expense too? It appears the manual only mentions interest from the capital loan can be booked as a valid expense. thanks for your help.
Posted Thu, 13 Oct 2022 12:14:07 GMT by HMRC Admin 19

The interest arising on the partnership capital loan should be entered in the ' Your share of untaxed interest – from box 13 on the Partnership Statement' box on the SA104.                                                

 You can see detailed guidance regarding the expenses that can be claimed by partners here:  

PM163360 - Expenses paid by partners

Thank you.

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