Related Commentary  

127A(1)  This section applies if–

(a)in a tax year a person makes a loss in a UK property business or overseas property business (whether carried on alone or in partnership),

(b)the loss has a capital allowances connection (see section 123(2)), and

(c)the loss arises directly or indirectly in consequence of, or otherwise in connection with, relevant tax avoidance arrangements.

127A(2)  No property loss relief against general income may be given to the person for so much of the applicable amount of the loss as is attributable to an annual investment allowance.

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