PART 1Income tax, corporation tax and capital gains tax
CHAPTER 2Income tax: general
Exemptions and reliefs
14Relief for loan interest: loan to buy interest in employee-controlled company
1
In section 397 of ITA 2007 (eligibility requirements for interest on loans within section 396), for subsection (2)(a) substitute—
a
an unquoted company that is resident in the United Kingdom or another EEA state and is not resident outside the European Economic Area, and
2
The amendment made by this section has effect in relation to interest paid in the tax year 2014-15 or any subsequent tax year.