Income Tax Act 2007 (c. 3)

Part 4 Loss relief

Chapter 7 Losses from miscellaneous transactions

Supplementary

155 Time limit for claiming relief

(1) So far as a claim for loss relief against miscellaneous income concerns the amount of the loss for a tax year, it must be made on or before the fifth anniversary of the normal self-assessment filing date for the tax year.

(2) But—

(a) the question whether, and

(b) if so, how much,

loss relief against miscellaneous income should be given for a tax year may be the subject of a separate claim made on or before the fifth anniversary of the normal self-assessment filing date for the tax year.