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Bad news I regret, only the interest on that loan would be deductible, but in any event it would not be allowed as you are merely using your own money to set up as a sole trader. Now had you set up a limited company to trade and loaned it 50K then that would be an entirely different kettle of fish and any loan interest paid allowable against Corporation Tax (CT). However, that interest would be taxable against you under the Income Tax (IT) regime. Always remember Benjamin Franklin's quip that in life there are but two certainties, death and taxes!
I am so sorry to have to give such dismal news.