64 Deduction of losses from general income
Income Tax Act 2007 (2007 c 3) | Legislation

Trade loss relief against general income

64  Deduction of losses from general income

(1)     A person may make a claim for trade loss relief against general income if the person—

(a)     carries on a trade in a tax year, and

(b)     makes a loss in the trade in the tax year (“the loss-making year”).

(2)     The claim is for the loss to be deducted

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