Related Commentary  Related HMRC Manuals

384(1)  Relief is not to be given under this Chapter for interest on a debt incurred–

(a)by overdrawing an account, or

(b)by debiting the account of any person as the holder of a credit card or under similar arrangements.

384(2)  If the interest paid on a loan in a tax year exceeds a reasonable commercial amount of interest on the loan for the relevant period, relief is not to be given under this Chapter for so much of the interest as represents the excess.

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