Paragraph 48 Income Tax Act 2007

United Kingdom

(1)

Section 90 (losses that are “terminal losses”) is amended as follows.

(2)

In subsection (4)—

(a)

for “203(3) and (4)” substitute “7A(3) and (4)”;

(b)

for “203(2)” substitute “7A(2)”.

(3)

Omit subsection (5).