This section has no associated Explanatory Notes
524U.K.In section 446 (strips of government securities: relief for losses) for subsection (2) substitute—
“(2)If a person makes a claim under this section, the relief is given by deducting the loss in calculating the person's net income for the tax year in which the disposal occurs (see Step 2 of the calculation in section 23 of ITA 2007).”