Interest - can i claim as an expense

[howareya]

Want to invest in Land abroad and best way appears to be thru a company. If i borrow to invest in this company will i be able to claim the interest as a deduction when eventually the company is wound up?

(I understand that under normal circumstances it is not good practise to purchase property through a company but i have received professional advise and in this case it is the route to take.)

Talking aabout a large amount of interest per annum up or over 100k. i will be asking my tax adviser but taught i'd put out a few feelers for info.

 

[bazermc]

There is a relief available for an individual who borrows to invest or lend money to a qualifying company.

Prior to Finance Act 2006 a qualifying company included a company whose income consisted of rents or other income from property. This in effect would seem to prevent you from claiming any tax relief.

This section of the taxes act is extremely complex and I would recommend getting further advise to ensure 100% that it either is or isnt available.

 

[Newby]

Its not entirely clear from your post whether or not you are talking about an Irish company. If you already have professional advice regarrding the investment then why not ask the advisor about the interest as i imagine it is a fairly important part of the investment decision.