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Posted Thu, 25 Aug 2022 12:29:05 GMT by wilson1505
I borrowed bank loan from a bank, and then I lend all the money to My husband's limited company. The bank charge me about 5% of interests and then I charge the same interests to My husband's limited company. In this case, can I deduct the 5% bank loan interest against my self assessment income? Thank you
Posted Wed, 07 Sep 2022 07:19:55 GMT by HMRC Admin 19

No, there is no tax relief for an individual taking a bank loan. You can see information regarding peer to peer lending here: 

Peer to peer lending

Thank you.

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