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Credit Card charges or interest?

25/11/2017 15:03:48
I'm completed my self assessment for the first time and am confused as to whether it is credit card charges I can claim or credit card interest?
I know I can claim bank charges but don't want to assume it will be credit card charges too, rather than interest.

The online guidance in the self assessment form just states:

Include interest on bank and other business loans. Also include alternative finance payments, bank, overdraft and credit card charges, hire purchase interest and leasing payments.

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Re:Credit Card charges or interest?

27/11/2017 10:22:10
Hi

Meeting wholly and exclusively rule any bank, overdraft and credit card charges are allowable https://www.gov.uk/expenses-if-youre-self-employed/legal-financial

Bearing in mind if using cash basis you can only claim up to £500 in interest and bank charges. You cant claim for repayments of loans, overdrafts or finance arrangements