Commentary on Sections Overview Overview Section 405: Carry back and forward of relief for interest on loans within section 403
1139.This section provides for the carry back or forward of interest eligible for relief by virtue of section 403. It is based on section 364(2) of ICTA.
1140.Relief for interest on a loan to pay inheritance tax is the only interest relief that may be deducted from income of a tax year other than the year in which it was paid.