Section 132: Entitlement to claim
429.This section deals with the making of a claim for share loss relief. It is based on section 574(1) of ICTA.
430.This section makes explicit what is only implicit in section 574(1) of ICTA:
in subsection (1), that a claim may be made for both the tax year in which the allowable loss is incurred and the previous tax year;
in subsection (2), what is required in practice to establish how the claim is to apply to each year; and
in subsection (3), that, in the case of a claim in respect of one year only, the claim must specify which year.
