# Finance Act 2001, Paragraph 10: Relieving different losses against the same profits


(1) Where intermediate unrelieved losses accruing to each of two or more persons fall to be relieved under paragraph 7 against the same relevant profits, such a loss accruing to a person who last had the transferred interest (or part of it) at an earlier time shall be so relieved before one accruing to a person who last had the interest (or part) at a later time.
(2) Where—
(a) two or more persons each last had a part of the transferred interest at the same time, and
(b) intermediate unrelieved losses accruing to each of them fall to be relieved under paragraph 7 against the same relevant profits,
those losses shall be so relieved in such a manner as ensures that the same proportion of each is so relieved.
(3) In this paragraph, references to an intermediate unrelieved loss accruing to a person are to the intermediate unrelieved loss in respect of an allowable loss accruing to the person.

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Source: https://www.legislation.gov.uk/ukpga/2001/9/schedule/32/paragraph/10 (the official version)
Page: https://openlegislation.uk/finance-act-2001/schedule-32/paragraph-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.