Qualifying loan interest

This screen is accessed via the data input tab within the tax return. Tax relief may be claimed for interest payable on a loan or alternative finance arrangement used to buy:

  • shares in, or to fund, a close company
  • an interest in, or to fund, a partnership
  • plant or machinery not already deducted as a business expense

For more information see Helpsheet 340 Interest and alternative finance payments eligible for relief on qualifying loans and alternative finance arrangements.

From 2014, relief on qualifying loan interest and certain other reliefs are limited by the limit on Income Tax reliefs. See HMRC Helpsheet 204 Limit on Income Tax reliefs.

  • Description of loan’ Enter a brief description of the loan.
  • ‘Amount paid’ Enter the amount of tax relief being claimed.
  • ‘Investment into property partnership?’ tick the box if the loan relates to investment into a property partnership

To delete a line from the grid, click the ‘trash can’  button at the end of the line.

Using income losses against capital gains

Firstly, please ensure that you are making the best use of the losses before proceeding. Select the Capital gains tab from the data input screen Click on the Disposals tab, and enter the relevant information Click on the Capital Losses tab, and enter the amount of loss that you wish to set off against the […]

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Restricting access to clients

This feature is only available for multiuser accounts, it has been designed so that you can restrict user access for certain clients if required. Users with “edit client access” rights AND who have access to a client can assign or remove access rights via the Access tab on the client screen. The default is that […]

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User restrictions within Taxfiler

This function is only available for a multiuser license. Some functions within Taxfiler can be restricted from a user. From the SETTINGS icon select Users and select the user that you wish to edit Select Restrictions tab You will be presented with several functions which can be selected or removed via a tick box. For […]

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