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

Property loss relief against general income

120  Deduction of property losses from general income

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

(a)     in a tax year (“the loss-making year”) the person makes a loss in a UK property business or overseas property business (whether carried on alone or in partnership), and

(b)     the loss has a capital allowances

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