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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › CGT and Loan interest
In question 96 of the BPP kit, loan interest taken out to finance the purchase of a residential property is not deducted from the sale proceeds in calculating CGT. It says it’s a revenue expense that’s why it’s not deducted but in this case shouldn’t it be a capital expense?
I think it’s becasue it’s residential property and not trading propety
