Skip to content
Solved

BIM45800 | Specific deductions - incidental costs of loan finance: introduction and layout of guidance: contents

From HM Revenue & Customs · Business Income Manual

S58, S59 Income Tax (Trading and Other Income) Act 2005

Income Tax

A statutory deduction in computing the profits of a trade applies to the incidental costs of raising loan finance which would otherwise not be an allowable deduction. The rules apply only to Income Tax.

There are special rules regarding the incidental costs of raising loan finance for businesses using the cash basis - see BIM70040

Corporation Tax

For Corporation Tax, incidental costs of raising loan finance are dealt with under the loan relationships rules. For details see CFM30000 onwards.

The guidance covers the following:

Contents5 entries

  1. BIM45801Specific deductions - incidental costs of loan finance: scope of the legislation
  2. BIM45810Specific deductions - incidental costs of loan finance: convertible loan or loan stock
  3. BIM45815Specific deductions - incidental costs of loan finance: expenses allowable
  4. BIM45820Specific deductions - incidental costs of loan finance: exclusions from relief
  5. BIM45825Specific deductions - incidental costs of loan finance: commitment fees