Revenue eBrief No. 143/18

16 July 2018

Loans applied in acquiring an interest in a company

The contents of Tax and Duty Manual Part 08-05-02 - Loans applied in acquiring an interest in a company - are no longer relevant.

Section 248 of the Taxes Consolidation Act 1997 provided tax relief for interest paid on loans applied in acquiring equity in, or giving a loan to, certain types of companies.

Relief under section 248 is not available for loans made on or after 7 December 2010. For qualifying loans made before 7 December 2010, relief was phased out over the tax years 2011 to 2013. No relief is available for the tax year 2014 and subsequent tax years.