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Tax Glossary
Welcome to 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. |
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