59Overview of PartU.K.
(1)This Part provides for income tax relief for—
(a)losses in a trade, profession or vocation (and certain post-cessation payments and events) (see Chapters 2 and 3),
(b)losses in a UK property business or overseas property business (and, in the case of a UK property business, certain post-cessation payments and events) (see Chapter 4),
(c)losses in an employment or office (see Chapter 5),
(d)losses on a disposal of certain shares (see Chapter 6), and
(e)losses in certain miscellaneous transactions (see Chapter 7).
(2)This Part needs to be read with Chapter 3 of Part 2 (calculation of income tax liability).
(3)For rules about the calculation of losses for the purposes of this Part, see—
(a)section 26 of ITTOIA 2005 (losses of a trade, profession or vocation calculated on same basis as profits),
(b)section 272 of ITTOIA 2005 (which applies section 26 of that Act, so that losses of a UK property business or overseas property business are calculated on the same basis as profits),
(c)section 11 of ITEPA 2003 (calculation of “net taxable earnings”), and
(d)section 872 of ITTOIA 2005 (losses from miscellaneous transactions calculated on same basis as miscellaneous income).