# Finance Act 2024, Paragraph 8: Removal of loss restrictions

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

In ITA 2007—
(a) in Chapter 2 of Part 4 (loss relief: trade losses) omit section 74E (no relief where cash basis used to calculate losses) and the italic heading before it, and
(b) in Chapter 1 of Part 8 (relief for interest payments), in section 384B(1) (restriction on relief where cash basis applies)—
(i) for the words from “has made” to “profits of” substitute “carried on”;
(ii) for “carried on by the partnership” substitute “the profits of which”.

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Source: https://www.legislation.gov.uk/ukpga/2024/3/schedule/10/paragraph/8 (the official version)
Page: https://openlegislation.uk/finance-act-2024/schedule-10/paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.