Partners refused tax relief on loan
Partners refused tax relief on loan
- 1988
- Daily Telegraph 21/11/88 p24 .
In R v Inspector of Taxes , ex parte Brumfield , QB 26 October 1988, it was held that tax relief was not available for interest paid on money borrowed by a partnership and made available free of interest to one partner to buy land in his own name.
In R v Inspector of Taxes , ex parte Brumfield , QB 26 October 1988, it was held that tax relief was not available for interest paid on money borrowed by a partnership and made available free of interest to one partner to buy land in his own name.