Restriction on interest deductions for self-employed claimants

Charles Ellinson made this Freedom of Information request to Department for Work and Pensions Automatic anti-spam measures are in place for this older request. Please let us know if a further response is expected or if you are having trouble responding.

Department for Work and Pensions did not have the information requested.

Dear Department for Work and Pensions,

The government announced at Autumn Statement 2023 that they will remove the remove the £500 limit on interest deductions in the cash basis for those with trading income, for tax purposes.

https://www.gov.uk/government/consultati...

There is an equivalent monthly threshold in Universal Credit of £41/month (as per UC Regs, Reg. 58(3A)).

Please can you provide any documents, information or correspondence held by the Department regarding whether this restriction will be removed from Universal Credit as well.

Yours faithfully,

Charles Ellinson

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freedom-of-information-request@dwp.gov.uk,

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Dear Charles Ellinson,

I am writing in response to your request for information, received 4th
December.

Yours sincerely,

DWP Central FoI Team