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Double tax relief on loans

Every business aims to achieve maximum tax relief on borrowings.

There is a difference between the rules for tax relief on loans between income and corporation tax and IHT. For income and corporation tax, relief is given for interest paid on borrowings incurred for the purpose of a trade including a rental business. Accordingly, relief on interest is given based on the purpose of the loan. However, for IHT purposes, a loan relates to the value of the assets on which it is secured or charged.




Date: 10th August, 2007
Author: Cathy Corns


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