Part 8Other reliefs
Chapter 1Interest payments
Loans for investing in partnerships
F1399BProperty partnerships: tax reduction for non-deductible loan interest
(1)
Subsections (2) and (3) apply if for a tax year an individual would be given relief for an amount (“the relievable amount”) by section 383(1) but for section 399A.
(2)
The individual is entitled to relief under this section for the tax year in respect of the relievable amount.
(3)
The amount of the relief is given by—
where BR is the basic rate of income tax for the year.