Part 4Loss relief
Chapter 4Losses from property businesses
Introduction
117Overview of Chapter
1
This Chapter—
a
provides for losses made in a UK property business or overseas property business in a tax year to be carried forward for deduction from profits in subsequent tax years (see sections 118 and 119),
b
provides in limited circumstances for relief against general income for losses made in a UK property business or overseas property business (see sections 120 to 124), and
c
provides for relief for certain post-cessation payments and events in connection with a UK property business (see section 125).
2
This Chapter also makes provision for a UK property business which consists of, or so far as it includes, the commercial letting of furnished holiday accommodation to be treated as a trade for the purposes of this Part (see section 127).
F12A
This Chapter also makes provision for an overseas property business which consists of, or so far as it includes, the commercial letting of furnished holiday accommodation in one or more EEA states to be treated as a trade for the purposes of this Part (see section 127ZA).