Part 8Other reliefs
Chapter 1Interest payments
Loans for investing in partnerships
399BF1Property 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.