On 16 July 2018, Irish revenue authority published a Tax and Duty Manual concerning loans applied in acquiring an interest in a company. The contents of Tax and Duty Manual Part 08-05-02 – Loans applied in acquiring an interest in a company – are no longer relevant.
Section 248 of the Taxes Consolidation Act 1997 provided tax relief for interest paid on loans applied in acquiring equity in, or giving a loan to, certain types of companies.
Relief under section 248 is not available for loans made on or after 7 December 2010. For qualifying loans made before 7 December 2010, relief was phased out over the tax years 2011 to 2013. No relief is available for the tax year 2014 and subsequent tax years.
