Tax Glossary
Welcome to the our Tax Glossary. To help you interpret the jargon that you can come across in dealing with your tax, our team of experts have written a brief explanation for hundreds of technical terms. Click on a letter to show entries.
Qualifying Loans
Some types of loan qualify for tax relief on the interest paid, these are:
Loans to purchase plant or machinery used for an employment or trade.
Loans to buy shares in a close company. If you own 5% or more or are a full time working officer or employee (subject to additional conditions)
Loans to purchase land and buildings for use in business.
Loans to buy an interest in a partnership.
Loans to buy a life annuity if aged 65 or over at the time of purchase.
Loans taken out by a Personal Representative to pay Inheritance tax.
Some types of loan qualify for tax relief on the interest paid, these are:
Loans to purchase plant or machinery used for an employment or trade.
Loans to buy shares in a close company. If you own 5% or more or are a full time working officer or employee (subject to additional conditions)
Loans to purchase land and buildings for use in business.
Loans to buy an interest in a partnership.
Loans to buy a life annuity if aged 65 or over at the time of purchase.
Loans taken out by a Personal Representative to pay Inheritance tax.
Tax information provided by :
