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Relief for interest on acquisition of trade, partnership share or trading company: tax form help

Claiming relief​

You can claim the interest as a deduction if you have taken out a loan to acquire a:

  • trade
  • a share in a partnership which carries on a trade or profession
  • a controlling interest (more than 50% of the issued share capital) in a trading company

If any part of the loan was used for another purpose you must only claim the proportion that relates to the qualifying portion.

Loan to acquire less than a controlling interest in a trading company concession

Recovering capital

If you recover any capital from the trade, partnership or company and don’t use that amount to repay the loan, you must restrict the amount of your claim.

Example

​Capital taken out of the business calculation​
​Loan capital
​£500,000
​Interest paid
​£25,000
​Capital taken out of the business 1st July
​£100,000
​In the year that the capital taken out, the interest paid would be restricted as follows​
​100,000 / 500,000  × 25,000 =
​£5,000
​5,000  × 6/12 =
​£2,500
​Claim £25,000 - £2,500 =
​£22,500
​If no further capital is recovered the following year the claim would be: £25,000 - £5,000 = £20,000


More help

For more information about interest relief for acquisition of a trade, partnership share or company:

Interest tax relief

Printable notes

You can print these notes, including a large print version.

Interest relief for acquisition of a trade personal tax return notes

Accessible large print notes

Interest relief for acquisition of a trade personal tax return large print notes

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