Capital Allowances Act 2001 (c. 2)

Schedules

[F1 SCHEDULE A1 U.K. First-year tax credits

Textual Amendments

F1 Sch. A1 inserted (with effect in accordance with Sch. 25 para. 9 of the amending Act) by Finance Act 2008 (c. 9), Sch. 25 para. 5

Part 1 U.K. Entitlement to first-year tax credits

Unrelieved loss U.K.

13 (1) This paragraph applies where the qualifying activity is an overseas property business and paragraph 14 does not apply. U.K.

(2) The amount of the loss that is unrelieved is the amount of the loss, reduced by any amount set off against the loss under section 400 of ICTA (write-off of government investment).

(3) For this purpose, no account is to be taken of any losses brought forward from an earlier chargeable period under section 392B(1) of ICTA.]