25 Property loss relief
Finance Act 2010 (2010 c 13) | Legislation

25  Property loss relief

(1)     Chapter 4 of Part 4 of ITA 2007 (losses from property businesses) is amended as follows.

(2)     In section 117 (overview of Chapter), after subsection (2) insert—

“(3)     This Chapter also contains provision restricting relief under this Chapter (see section 127A).”

(3)     In section 120 (deduction of property losses from general income), after subsection (6) insert—

“(7)     See also section 127A (no relief for tax-generated losses attributable to annual investment allowance).”

(4)     After section 127 insert—

“Restrictions on relief

127A No relief for tax-generated losses attributable to annual investment allowance

(1)     This section applies if—

(a)

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