# Finance Act 2024, Paragraph 23: Substance based income exclusion: impairment losses

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

In section 197(4)—
(a) omit the “and” after paragraph (b), and
(b) after paragraph (c) insert—
“(d) any impairment loss, and
(e) so much of the reversal of a previous impairment loss as does not cause the carrying value to exceed the value it would have been had the impairment loss not been recognised,”.

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Source: https://www.legislation.gov.uk/ukpga/2024/3/schedule/12/paragraph/23 (the official version)
Page: https://openlegislation.uk/finance-act-2024/schedule-12/paragraph-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.