![]() The allowable expenses listed in the legislation form a class that would include any incidental costs of taking out a life insurance policy (for example a mortgage protection policy) but not the cost of the policy itself, that is, the premiums. Similarly, where a take-over bid is made in consideration for the issue of both shares and loan stock, only those costs that are wholly and exclusively incurred for the purpose of issuing the loan stock are allowable. In such cases you need to identify those expenses which are associated directly with the borrowing and to exclude any expenses incurred in connection with the acquisition of the asset. h) the costs of ‘rolling over’, extending, replacing, varying the terms of, or changing the security on, an existing loan.Ĭosts of acquiring assets, take-over bids etcĪ borrower may use a loan in connection with the acquisition of a capital asset (for example, where a factory is bought and financed wholly or partly by a loan).g) the costs of securing a Stock Exchange quotation for a loan stock.f) the costs of advertising or placing a loan stock issue and the miscellaneous costs of issuing a prospectus, postage etc.
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