Paragraph 3 Non-income losses
England and Wales
Non-income losses shall be excluded for the purposes of paragraph 2 above to the extent that—
(a)
they were sustained or incurred otherwise than as a result of ceasing, by reason of the enactment or coming into force of section 1 of the Act, to carry on a qualifying business;
(b)
they were not reasonably sustained or incurred; or
(c)
they are recoverable from any other source.