# Income and Corporation Taxes Act 1988, Paragraph 2

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

(1) Subject to sub-paragraph (2) below, no payment shall be deductible under section 28 if made before the beginning of the year 1964-65.
(2) Sub-paragraph (1) above shall not prevent the deduction of a payment in so far as a loss in respect thereof was carried forward to the year 1964-65 by virtue of section 346 of the Income Tax Act 1952 (Case VI losses).
(3) Paragraph 1(4) above shall apply in the case of a deduction falling to made by virtue of sub-paragraph (2) above as it applies in the case of one falling to be made by virtue of paragraph 1(3) above.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/1/paragraph/2 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-1/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.