Section 127BA | Restriction of relief: cash basis

(1)This section applies if—

(a)in a tax year a person makes a loss in a UK property business or overseas property business (whether carried on alone or in partnership), and

(b)the profits of the business are calculated on the cash basis for the tax year (see section 271D of ITTOIA 2005).

(2)No property loss relief against general income may be given to the person for the loss.