Related Commentary  Related HMRC Manuals

399(1)  Interest on a loan within section 398 to an individual is eligible for relief only if conditions A and B are met.

399(2)  Condition A is that throughout the period from the use of the loan until the interest is paid the individual has been a member of the partnership otherwise than–

(a)as a limited partner in a limited partnership registered under the Limited Partnerships Act 1907 (c. 24), or

(b)as a member of an investment LLP.

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.