152 Losses from miscellaneous transactions
Income Tax Act 2007 (2007 c 3) | Legislation

Chapter 7
Losses from Miscellaneous Transactions

Loss relief against miscellaneous income

152  Losses from miscellaneous transactions

[(1)     If in a tax year (“the loss-making year”) a person makes a loss in a relevant transaction, the person may make a claim for loss relief against relevant miscellaneous income.]

(2)     A transaction is a relevant one if, assuming there were profits or other income arising from it—

(a)     those profits or that other income would be [income on which income tax is charged under, or by virtue

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