{
  "url": "https://openlegislation.uk/income-tax-act-2007/schedule-2/paragraph-22",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/schedule-2/paragraph-22.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "schedule/2/paragraph/22",
  "kind": "paragraph",
  "number": "22",
  "heading": null,
  "text": "(1) This paragraph applies if—\n(a) a person makes a loss (“the 2006-07 loss”) in a trade in the tax year 2006-07,\n(b) relief under section 381 of ICTA is not available for the 2006-07 loss because of subsection (4) of that section,\n(c) the person makes a loss (“the 2007-08 loss”) in the trade in the tax year 2007-08,\n(d) (apart from this paragraph) relief under section 72 of this Act is not available for the 2007-08 loss because of section 74(1) of this Act,\n(e) the basis period for the tax year 2007-08 overlaps with the tax year 2006-07, and\n(f) ignoring this Act, subsection (4) of section 381 of ICTA would not have prevented relief under that section being available for the 2007-08 loss.\n(2) Section 74(1) of this Act is not to apply in relation to the 2007-08 loss.\n(3) This paragraph applies to professions and vocations as it applies to trades.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/schedule/2/paragraph/22",
    "retrieved_at": "2026-10-29T09:13:03.599581+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}