Related Commentary  Related HMRC Manuals

62(1)  This section applies if, in an accounting period, a company carrying on a UK property business makes a loss in the business.

62(2)  Relief for the loss is given to the company under this section.

62(3)  The relief is given by deducting the loss from the company's total profits of the accounting period.

62(4)  Subsections (5) to (5C) apply if–

(a)an amount of the loss is not deducted as mentioned in subsection (3) or surrendered by way of group relief under Part 5,

(b)the company continues to carry on the UK property business in the next accounting period.

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