hHi. Confused when looking at old accounts . If i pay the capital element of a commercial mortgage and therefore reduce the liability on the balance sheet by say £50000 for that year. The business made a loss on the profit and loss account ( the capital repayments are not shown on here, which is right ). Do i still pay corporation tax on the mortgage capital repayments if the profit and loss account is showing a loss or should it counteract each other.
Hello @WAZRICH
This is not something the support team can answer I’m afraid (as we are not registered accountants), I would reccomend checking this with your accountant for professional, tailored advice.
I will leave this thread open for you as there are some accounts on the forum who may comment.
Only interest on mortgage will go onto P&L, total repayment (cap+int) will go against mortgage outstanding
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