Commentary

E1.826 Qualifying loan interest—loan to purchase plant or machinery

Personal and employment tax

E1.826 Qualifying loan interest—loan to purchase plant or machinery

E1.826 Qualifying loan interest—loan to purchase plant or machinery

Introduction

The commentary below discusses relief available for interest paid by partners or employees where they take out a loan to buy plant or machinery for use in the business. This should be read in conjunction with E1.820, which includes details about general restrictions that apply to all qualifying loans and the mechanism by which relief is given (including the situation where interest paid on a loan to buy plant and machinery for use in a partnership can be treated as a trading loss).

Loan to buy plant or machinery for use in a partnership

Where a partnership

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