Hi
This is probably a really simple question but I thought I’d check before I progress any further.
I’m thinking of increasing my holdings in my Navra fund with some borrowed money.
Now, I assume the interest incurred on the borrowed money will be tax deductible each year even though I’m reinvesting the Navra fund payments?
Also, the loan that I am withdrawing the funds from is in joint names with my partner but the fund is only in my name (long storey why we did it this way) – does this have any impact?
Thanks in advance
Cheeks
This is probably a really simple question but I thought I’d check before I progress any further.
I’m thinking of increasing my holdings in my Navra fund with some borrowed money.
Now, I assume the interest incurred on the borrowed money will be tax deductible each year even though I’m reinvesting the Navra fund payments?
Also, the loan that I am withdrawing the funds from is in joint names with my partner but the fund is only in my name (long storey why we did it this way) – does this have any impact?
Thanks in advance
Cheeks