284 Bridging loan expenses
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

284  Bridging loan expenses

(1)     Expenses are within this section if—

(a)     the employee has an interest in the former residence and disposes of it because of the change of residence,

(b)     the employee acquires an interest in the new residence, and

(c)     the expenses are interest payable by the employee in respect of a loan raised by the employee wholly or partly because expenditure is incurred in connection with that acquisition before the proceeds of that disposal become available.

This is subject to subsections (2) and (3).

(2)     Interest

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