# Finance Act 2022, Paragraph 43: Income Tax Act 2007

Extent: E+W+S+N.I.

(1) Section 70 (determining losses in previous tax years) is amended as follows.
(2) Omit subsection (2).
(3) In subsection (3), in the words before paragraph (a), for “This loss” substitute “The loss”.
(4) In subsection (4), in the words after paragraph (b)—
(a) for “203(2)”, in both places, substitute “7A(2)”;
(b) omit “to basis periods are read as references to tax years and references”.
(5) In subsection (5), for “203(3) or (4)” substitute “7A(3) or (4)”.

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Source: https://www.legislation.gov.uk/ukpga/2022/3/schedule/1/paragraph/43 (the official version)
Page: https://openlegislation.uk/finance-act-2022/schedule-1/paragraph-43
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.