103C(1) This section applies if an individual carries on one or more trades–
(a)as a non-active partner in a firm during a tax year, or
(b)as a limited partner in a firm at a time in that tax year,
and the individual makes a loss in any of those trades (an “affected loss”) in that tax year.
103C(2) There is a restriction on the amount of sideways relief and capital gains relief which (after applying the restrictions under the other provisions of this Chapter) may be given to the individual for any affected loss (but see subsections (6) and (7)).