IHTM28012 - Liabilities: restricted deductions: meaning of 바카라 사이트˜maintain바카라 사이트™ and 바카라 사이트˜enhance바카라 사이트™
The words 바카라 사이트˜maintain바카라 사이트™ and 바카라 사이트˜enhance바카라 사이트™ extend the scope of the provisions beyond simply buying either excluded property (IHTM28014) or assets that qualify for relief (IHTM28019).̀ư
Both words have their normal meaning. 바카라 사이트˜Maintain바카라 사이트™ means to keep in good or proper order, and 바카라 사이트˜enhance바카라 사이트™ means to improve or augment. These words are most likely to apply in connection with borrowing money to maintaiǹưor enhance buildings.̀ư
Where a person borrows money instead of using their own money to acquirèưassets, it could be said that they have 바카라 사이트˜maintained바카라 사이트™ the value of their other assets. Sòưif they were not domiciled in the UK̀ư(to 5 April 2025)̀ư(IHTM13000)̀ưor not̀ưàưlong-term resident (from 6 April 2025)̀ư(IHTM47000)̀ưand̀ưheld most of their assets abroad, borrowing against UK assets could be said to be 바카라 사이트˜maintaining바카라 사이트™ the value of excluded property. Individuals are free to choose how to use and invest their assets and whether to borrow money. Sòưyou should not normally disallow the deduction of a liability in these circumstances.̀ư
But,̀ưany case where the borrowing against UK assets appears to be part of arrangements that are primarily designed to avoid these provisions and obtain a tax advantage should be referred to Technical.