Interest paid on a loan made to an individual may be eligible for income tax relief (see ¶3050) if the money is borrowed:

(1)to acquire ordinary shares of a qualifying ‘close company’;

(2)in making a loan to a qualifying close company where the loan is used wholly and exclusively for the business of the company or of any associated qualifying close company; or

(3)in satisfying an earlier loan which would have qualified for interest relief.

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.