Statute
Section 412H — Income Tax Act 2007: Interaction with other reliefs
Text of the provision Official document
Interaction with other reliefs 412H 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).
Official source: legislation.gov.uk
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