SCHEDULES

SCHEDULE 21Restriction on loss relief for non-active traders

Other amendments

3

In section 32 (liability not dealt with in the calculation), before the entry relating to section 79(1) insert— “ under section 74C(5) (non-active traders: withdrawal of relief), ”.

4

In section 64(8) (deduction of trade losses from general income), after paragraph (b) insert—

“(ba)

sections 74A to 74D (general restrictions on relief),”.

5

In section 72(5) (early trade loss relief)—

(a)

in paragraph (b), after “relief” insert “ unless trade is commercial etc ”, and

(b)

after that paragraph insert—

“(ba)

sections 74A to 74D (general restrictions on relief),”.