Suppose I borrow money and use it to buy stock, expecting the stock price to raise short-term.
HMRC provides clear instructions on futures and contracts-for-difference (CFDs), but none on custom types of leverage, that is, when a trader borrows money from one place and buys the stock from another.
Can the charged interest be subtracted from the net gain (or loss) of the trade?
Note: the question is about the UK taxation system. In the US, the answer seems to be yes, as per schwab.com:
In these cases, you may be able to deduct the interest on the margin loan. (This wouldn’t apply if you used the loan to buy tax-advantaged investments such as municipal bonds).