Gains from which pre-entry losses are deductible: pre-entry assets
If a company has a pre-entry loss on an asset brought into the group, the loss can be deducted from the categories of gains described in CG47778 - CG47782.
Note: Additional rules relating to loss buying were enacted in FA 2006. See CG47020+ for guidance on the rules which apply in priority to TCGA92/SCH7A for accounting periods ending on or after 5 December 2005.
FA11/S46 and FA11/SCH11 greatly simplified the rules in TCGA92/SCH7A for the deduction of losses on or after 19 July 2011. See CG47400+ for guidance on loss streaming from that date.