Introduction Commencement and transitional provision
8.Paragraph 3 provides for the limit to take effect for tax year 2013-14 and subsequent tax years.
9.Paragraph 4 provides that the limit will also apply where loss relief is claimed for a tax year before 2013-14 in relation to losses made in 2013-14 or a later year.
10.Paragraph 5 ensures that the limit will not apply to property loss relief arising from a loss made in 2012-13 where the loss is claimed for relief against general income in tax year 2013-14.