{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-405",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-405.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/405",
  "kind": "section",
  "number": "405",
  "heading": "Carry back and forward of relief for interest on loans within section 403",
  "text": "(1) This section applies if relief for any interest on a loan within section 403(1) that is eligible for relief cannot be given for the tax year in which the interest is paid because there is not enough income in that year.\n(2) The person paying the interest is entitled to relief for that interest—\n(a) for the preceding tax year, or\n(b) if there is not enough income in that year, for the tax year preceding it,\nand so on.\n(3) If relief cannot be given under subsection (2), it may instead be given—\n(a) for the tax year following that in which the interest is paid, or\n(b) if there is not enough income in that year, for the tax year following it,\nand so on.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/405",
    "retrieved_at": "2026-10-29T09:13:03.599581+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}