Re: Where to Place Business Bank Account Interest on Tax Return??
- From: John <no@xxxxxxxxx>
- Date: Wed, 28 Sep 2005 08:03:21 +0100
Ted wrote:
Boxes 10.2, 10.3 and 10.4 are not limited to non-business bank accounts. Include the interest there.If I fill in in sections 10.2 10.3 10.4 of the tax return, which relates to interest from bank accounts, with "amount after tax taken off", "tax taken off" and "gross amount before tax" with figures from my personal bank account, would I *exclude* figures from my *business* bank account from these boxes?
Are these boxes just for the personal bank account?
I was wondering if this is the case, as in the self-employment section, there is a box (box 3.50) into which interest from a business bank account should be placed.
Would anyone know if the figure which goes in box 3.50 should be gross of the tax which the bank have already deducted, or net?
Thanks very much for any advice or info...!
On the Self-Employment pages, if the business accounts include the interest you are talking about, use appropriate boxes to exclude that interest so that it does not get taxed twice.
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