BIM85700 - restriction of relief: contents

Trade losses may be relieved by deducting the amount of the loss from other types of taxable income. There are restrictions to the use of losses in this way, known as sideways relief, to ensure that relief is only given for genuine commercial losses. Additional restrictions apply to partnerships, see BIM82600 onwards.

Sideways loss relief also comes within the income tax reliefs cap, see BIM85703.