Commercial loan uk

Questions and Answers

Does a loan from a parent (at commercial rates) need to be declared on a UK Tax Return?

A) For what purpose? If it's a commercial loan for business use then you will want to claim relief for the interest. If it's a private loan, then there is no point as you get no tax relief anyway. Plus, there is nowhere on the return to declare it. However, if you're asking if your parent needs to declare the interest received, the answer is YES.