Statute
Section 127BA — Income Tax Act 2007: Restriction of relief: cash basis
Text of the provision Official document
Restriction of relief: cash basis 127BA 1 This section applies if—
a in a tax year a person makes a loss in a UK property business or overseas property business (whether carried on alone or in partnership),
and b the profits of the business are calculated on the cash basis for the tax year (see section 271D of ITTOIA 2005).
2 No property loss relief against general income may be given to the person for the loss.
Official source: legislation.gov.uk
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