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

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. »Ê¹ÚÌåÓýapp rules apply only to Income Tax.

»Ê¹ÚÌåÓýappre 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.

»Ê¹ÚÌåÓýapp guidance covers the following:

  1. BIM45801
    Scope of the legislation
  2. BIM45810
    Convertible loan or loan stock
  3. BIM45815
    Expenses allowable
  4. BIM45820
    Exclusions from relief
  5. BIM45825
    Commitment fees