Related Commentary  Related HMRC Manuals

387(1)  Interest for which relief is given under this Chapter is not allowable as a deduction for any other income tax purposes.

387(2)  No relief is given under this Chapter for any tax year for the payment of any interest taken into account in calculating the profits of–

(a)any trade, profession or vocation,

(b)any UK property business, or

(c)any overseas property business.

387(3)  If interest is so taken into account, no relief is given under this Chapter for any relevant tax year for other interest on the same debt or liability.

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