Loan to buy business premises -interest restricted 2011?

In the case of a loan taken out personally in 2008 to buy a premises and let it to the company I am a director of, is there now restriction on the amount of interest I can claim against the rent received?

I read somewhere that the restrictions will be

75% in 2011
50% in 2012
25% in 2013
No relief will be available for 2014 onwards.

Thanks in advance

You are getting two issue confused here. Yes the restrictions you quote are correct (at present) for loans taken to invest in a company.

However your post suggests you ve bought the premises and are letting it to the company which is a different scenario. You get interest relief (100%) againt the rental income you receive in letting it. You are taxed on the surplus under schedule D Case V.

Its a commercial premises and not residential so there is no interest restriction, so im sincerely hoping your accountant hasnt applied 75% from 7 April 2009 or any of 2010.

Worth checking out.

Regards,

Brian