[74A Reliefs in any tax year not to exceed cap for tax year]
Income Tax Act 2007 (2007 c 3) | Legislation

[74A  Reliefs in any tax year not to exceed cap for tax year]

[(1)     This section applies if—

(a)     during a tax year an individual carries on one or more trades, otherwise than as a partner in a firm, in a non-active capacity (see section 74C), and

(b)     the individual makes a loss in any of those trades (an “affected loss”) in that tax year.

(2)     There is a restriction on the amount of sideways relief and capital gains relief which (after applying the restrictions under the other

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