A friend has told you that he’s claiming tax relief on interest he’s paid on a loan he took out to pay for a holiday. He secured the borrowing on his home to get a lower rate of interest. Will the
Taxman really allow this?
Published 08.05.2009
The loan offer from your company’s bank seems expensive. However, you can personally raise some cheaper finance for your business. How can you make sure you get a tax deduction for any interest paid
on this loan?
Published 01.03.2007
You’re thinking of personally raising some finance for your business. How can you make sure you get a tax deduction for any interest paid on this loan? Are there any traps for the unwary? Strictly
business
Published 21.10.2004
Buy-to-let landlords and business owners may be able to reorganise their finances to get tax relief on loans to finance their hobbies and other non-qualifying activities. How does this work?
Published 05.07.2007
If you take out a loan to fund the purchase of business premises you’d hope that any interest you pay would be tax-deductible in full. However, any non-business use of the property will affect this.
How can you maximise your claim?
Published 22.06.2006
Strict rules limit tax deductions that employees and directors can claim for work-related expenses. They must be incurred as part of doing your job, but there are exceptions, such as loan interest.
In what circumstances can you make a claim?
Published 25.01.2012
You inherited some money recently which is sitting on deposit earning virtually no interest. Can you lend some of it to your company and charge it a higher interest rate to generate more income, and
would doing so be tax efficient?
Published 03.12.2021
As a money-making plan a friend has suggested lending some of your personal savings to your company. The idea is that it can pay you more interest than the bank does. It sounds interesting but are
there troublesome tax consequences?
Published 08.04.2021
Where you take out a loan to inject money into your company, you can claim a tax deduction for the interest you pay. But if there are other shareholders, in some cases you might not get tax relief.
When does this trap apply and can you avoid it?
Published 31.05.2012
A friend has told you that his accountant was able to get him tax relief for his home mortgage interest. As relief for this type of interest ended decades ago, how was it possible and might you be
able to do the same?
Published 18.03.2024