Other tax relief deductions 11 - Qualifying loan interest

You may be entitled to claim tax relief for interest paid on a loan or alternative finance arrangement used to buy:

• shares in, or to fund, a 'close' company (contact your HMRC office if you are not sure if the company is 'close')
• an interest in, or to fund, a partnership (if you are claiming relief for investment in a property letting partnership, you must read Help Sheet 340 - Interest and alternative finance payments eligible for relief on qualifying loans and alternative finance arrangements)
• plant or machinery for your work (but make sure you do not claim this interest twice, you will do if you have already deducted it as a business expense)

The limit on Income Tax Reliefs, restricts the total amount of qualifying loan interest relief and certain other reliefs in each year to the greater of £50,000 and 25% of your 'adjusted total income'.

Please enter the amount you are claiming in this field.

Help Sheet 340 - Interest and alternative finance payments eligible for relief on qualifying loans and alternative finance arrangements has more information.

If you think the information you are adding has an effect on your your 6 April 2021 to 5 April 2022 or 6 April 2022 to 5 April 2023 PAYE Tax codes there is guidance to tell you how to let HMRC know of the change - If you think your code is wrong.