Related Commentary  Related HMRC Manuals

411(1)  Interest that would be eligible for relief under this Chapter apart from this section is not eligible if–

(a)the interest is on a loan to which section 392, 396 or 398 applies, and

(b)the business carried on by the close company, employee-controlled company or partnership concerned consists of the occupation of commercial woodlands.

411(2)  If only part of the business consists in such occupation, only part of the interest is ineligible for the relief.

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