# Finance Act 1998, Paragraph 72


(1) A loss to which this paragraph applies which a company would, apart from this Schedule, have been entitled to carry forward under section 396 of the Taxes Act 1988 (Case VI losses) shall be treated after commencement as a loss of an earlier period within section 392A or 392B of that Act and accordingly available to be set off under those provisions.
(2) This paragraph applies to a loss sustained in a business or transaction of a kind that after commencement would be treated as carried on or entered into in the course of a Schedule A business or overseas property business carried on by the company.

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Source: https://www.legislation.gov.uk/ukpga/1998/36/schedule/5/paragraph/72 (the official version)
Page: https://openlegislation.uk/finance-act-1998/schedule-5/paragraph-72
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.