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Tax relief on semi commercial property interest

Tax relief on semi commercial property interest

I am having trouble finding out whether all the interest paid on a semi-commercial property doesn't need to be restricted or whether the loan needs to be split between the commercial and residential portion and part of the interest restricted.

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16th Jan 2019 13:38

You're looking at s272A, yes? Try turning the page.

[I apologise for the way my slightly odd mood is expressing itself today. Nothing personal.]

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16th Jan 2019 15:36

That's ok Tax Dragon and thanks. If I understand the wording correctly, a loan taken out to buy a property which consists of offices and residential in the same building, the interest on the loan will be apportioned as is 'just and equitable'.

Have I got that right?

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to brian-scholar
16th Jan 2019 18:23

"Just and reasonable" - a well-worn legislative phrase that I reckon could be interpreted in a similar way in this new setting as it is in older ones.

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