# Income Tax Act 2007, Section 399B: Property partnerships: tax reduction for non-deductible loan interest


(1) Subsections (2) and (3) apply if for a tax year an individual would be given relief for an amount (“the relievable amount”) by section 383(1) but for section 399A.
(2) The individual is entitled to relief under this section for the tax year in respect of the relievable amount.
(3) The amount of the relief is given by—
B R × the relievable amountwhere PBR is the property basic rate of income tax for the year.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/399B (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-399B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.