Schedules

F1SCHEDULE A1First-year tax credits

Annotations:
Amendments (Textual)
F1

Sch. A1 inserted (with effect in accordance with Sch. 25 para. 9 of the amending Act) by Finance Act 2008 (c. 9), Sch. 25 para. 5

Part 1Entitlement to first-year tax credits

Incurring a loss in carrying on a qualifying activity

5

1

This paragraph applies where the qualifying activity is F3an ordinary UK property business or an ordinary overseas property business and paragraph 7 does not apply.

2

References in this Schedule to a loss incurred in carrying on the qualifying activity are to a loss incurred in carrying on that part of the business (if any) to which F2sections 62 and 63 of CTA 2010 (UK property business losses) apply (see section 64 of that Act).