Commentary

C2.219 Expenditure in respect of borrowed money

Capital gains tax
Capital gains tax | Commentary

C2.219 Expenditure in respect of borrowed money

Capital gains tax | Commentary

C2.219 Expenditure in respect of borrowed money

Payments of interest are not allowable as a deduction in the computation of a chargeable gain1. For accounting periods ending after 31 March 1996, interest paid by a company is dealt with under the loan relationships legislation (see Division D1.7)2.

HMRC do not allow deductions for fees of building societies, solicitors and valuers and any other costs of arranging a mortgage or other loan in connection with the acquisition of the asset3.

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