Bank & Finance Charges — Ireland Tax Rules

Claim business bank account fees, loan interest, and payment processing charges.

Claimable: Fully claimable · Tax authority: Revenue

Revenue Rules

• Business bank account fees and charges are fully deductible.
• Interest on business loans is claimable (capital repayments are not).
• Payment processing fees (Stripe, PayPal, SumUp) are deductible.
• Foreign exchange fees on business transactions are claimable.
• Personal bank charges are NOT deductible.

Limits

No cap — must be incurred for business banking purposes.

Worked Example

Pádraig's business account charges €7/month. He pays €200/year in Stripe fees and €100 in loan interest. Total: (€7 × 12) + €200 + €100 = €384.

Record Keeping

• Keep bank statements showing all charges
• Record payment processor statements
• Retain loan agreements and interest schedules
• Separate business banking from personal

Frequently Asked Questions

Can I claim interest on a personal loan used for business?

If you can clearly demonstrate the loan was used for business purposes, the interest portion may be deductible. Keep clear documentation.

Are credit card fees deductible?

Annual fees and interest on a business credit card are deductible. For personal cards used for business, only the business portion is claimable.

Can I claim currency exchange losses?

Foreign exchange losses on genuine business transactions are deductible. Speculative currency trading losses are not.

Are Revolut Business or N26 Business fees deductible?

Yes. Monthly plan fees, transaction fees, and card fees for fintech business accounts (Revolut Business, N26 Business, Wise Business) used for business purposes are fully deductible as bank charges. Keep the monthly billing statements from the account.