Related Commentary  Related CasesRelated HMRC Manuals

383(1)  A person who pays interest in a tax year is entitled to relief for the tax year for the interest if–

(a)the loan on which the interest is payable is a loan to which a provision specified in subsection (2) applies,

(b)the interest is eligible for relief in accordance with this Chapter, and

(c)the person makes a claim.

383(2)  The provisions are–

(a)section 388 (loan to buy plant or machinery for partnership use),

(b)section 390 (loan to buy plant or machinery for employment use),

(c)section 392 (loan to buy interest in close company etc),

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.