98 Meaning of “qualifying event” etc
Income Tax Act 2007 (2007 c 3) | Legislation

98  Meaning of “qualifying event” etc

(1)     This section explains for the purposes of section 96 what is meant by—

(a)     a “qualifying event” occurring in relation to a debt owed to a person who has permanently ceased to carry on a trade, and

(b)     “the appropriate amount of the debt” to be deducted in calculating a person's net income for “the relevant tax year”.

(2)     A qualifying event occurs in relation to a debt owed to the person if—

(a)     an unpaid debt was brought into account

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