Policy paper

Income Tax: miscellaneous loss relief

This Tax Information and Impact Note is about countering avoidance of Income Tax involving losses from miscellaneous transactions.



The changes introduced by this measure denying loss relief where a miscellaneous loss, or miscellaneous income, arises as a result of relevant tax avoidance arrangements will have effect in relation to losses and income arising on and after 3 December 2014.

The change limiting the deduction of miscellaneous losses to miscellaneous income of the same type will have effect for the tax year 2015 to 2016 and subsequent years.

A draft legislation for this measure has been published at Draft legislation: Income Tax - miscellaneous loss relief.

Published 3 December 2014