Part 8

Other reliefs
Chapter 1

Interest payments

Loans for investing in partnerships

Property partnerships: tax reduction for non-deductible loan interest
399B
1
Subsections (2) and (3) apply if for a tax year an individual would be given relief for an amount (“the relievable amount”) by section 383(1) but for section 399A.
2
The individual is entitled to relief under this section for the tax year in respect of the relievable amount.
3
The amount of the relief is given by—
B R × the relievable amount
where BR is the basic rate of income tax for the year.
Ss. 399A, 399B inserted (18.11.2015) by Finance (No. 2) Act 2015 (c. 33), s. 24(7)