Section 26

LIMIT ON AMOUNT OF SIDEWAYS RELIEF AND CAPITAL GAINS RELIEF AVAILABLE IN ANY TAX YEAR

Related Commentary  Related HMRC Manuals

1(1)  [Inserts ITA 2007, s. 103C.]

1(2)  The amendment made by sub-paragraph (1) has effect in relation to any loss made by an individual in a trade in the tax year 2007–08 or any subsequent tax year.

1(3)  But, in the case of a loss made by an individual in a trade in a tax year the basis period for which begins before 2nd March 2007 (a “straddling basis period”), the amount of that loss for the purposes of section 103C of ITA 2007 is–

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