Part 8Other reliefs

F1CHAPTER 1AIrrecoverable peer-to-peer loans

Annotations:
Amendments (Textual)

Supplementary provisions

412HInteraction with other reliefs

1

Subsection (2) applies in relation to a loan if any person has obtained income tax relief (other than under this Chapter) which is properly attributable to the loan.

2

The amount (if any) of the principal of the loan which is treated as irrecoverable may not exceed the amount which is arrived at by—

a

taking the amount of the principal of the loan, and

b

deducting the amount of the relief mentioned in subsection (1).