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Loan interest Relief

A client (without consulting us!) went out and bought business Goodwill, F & F and Leasehold prenmises and started trading as a Limited Company.

The Loan is the personal names of the two directors.

How can they claim interest relief on this loan? Can they claim it on the Ltd Co ? If not, how and where do they claim this on their personal Tax Return?

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18th Jan 2012 16:21

Additional Info pages

It goes in box 5 on page Ai 2 and they get relief in the form of a deduction from income.

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