SCHEDULES
SCHEDULE 12 Banks etc. in compulsory liquidation
Relief from tax
4
1
In computing the tax that is chargeable by virtue of paragraph 3 above for any chargeable period, there shall be deducted from the amount that would otherwise be chargeable to tax the aggregate amount of all losses, expenses and debits within sub-paragraph (2) below incurred in that chargeable period or before it, in so far as relief (whether under this sub-paragraph, sub-paragraph (3) below or any other provision of the Tax Acts) has not been given in respect of them already.
2
Any loss, expense or debit (other than a loss, expense or debit arising directly or indirectly from the discontinuance itself) incurred—
a
after the later of the two events mentioned in paragraph 3(1) above, or
b
in the case of a loss, at or before the discontinuance of the relevant trade,
F23
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