90 Losses that are “terminal losses”
Income Tax Act 2007 (2007 c 3) | Legislation

90  Losses that are “terminal losses”

(1)     Each of the following is a terminal loss made in the trade—

(a)     the loss (if any) made in the trade in the period beginning with the start of the final tax year and ending with the cessation, and

(b)     the loss (if any) made in the trade in the period consisting of so much of the previous tax year as falls in the 12 months prior to the cessation.

(2)

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