Introduction
The commentary below discusses the income tax relief available for interest paid by to acquire an interest in a co-operative. This should be read in conjunction with E1.820, which includes details about general restrictions that apply to all qualifying loans and the mechanism by which relief is given.
Loan to invest in a co-operative
Interest is eligible for relief if the loan is used by an individual to1:
- Ìý
•ÌýÌýÌýÌý meet the cost of acquiring shares in a co-operative
- Ìý
•ÌýÌýÌýÌý on-lend to a co-operative, where the money is used wholly and exclusively for the purposes of its business, or the business
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