SCHEDULES
SCHEDULE 2Transitionals and savings
Part 5Losses (except losses on disposal of shares)
Members of LLPs: carry-forward of losses
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1
The amounts of loss covered by section 109(1)(b) include amounts of loss which, as a result of section 117 of ICTA (as applied by section 118ZB of that Act), are not—
a
relieved under section 380 or 381 of ICTA, or
b
treated as an allowable loss by virtue of section 72 of FA 1991.
2
In section 109(3)—
a
references to section 109 include references to section 118ZD of ICTA,
b
references to sideways relief include references to relief under section 380 or 381 of ICTA, and
c
references to capital gains relief include references to the treatment of a loss as an allowable loss by virtue of section 72 of FA 1991.