Norfolk’s Taxation of Interest and Loan Relationships

Publisher: Bloomsbury Professional; loose-leaf

This is a major loose-leaf work rewritten by new authors and relaunched on all aspects of interest payable by both individuals and corporate entities. In that regard it must be one of the most comprehensive authorities on the subject currently in the market place.

Anyone doubting that sweeping remark need only look at the extensive sections dealing with historic material – e.g. mortgage interest relief at source – which in many other works would be lost into an old edition.

The work commences at the ground floor with the chapter ‘What is “interest”?’ which includes the well-known definition in Bennett v Ogston 15 TC 374: ‘Payment by time for the use of money’.

Just a quick glance through the chapters reveals the breadth of the task the authors faced including grappling with the statutory override treating interest as...