Section 91 | How relief works

This section explains how the deductions are to be made. The amount of the relievable loss to be deducted at any step is limited in accordance with section 25(4) and (5).Step 1Deduct the relievable loss from the profits of the trade of the final tax year.Step 2Deduct any part of the relievable loss not deducted at Step 1 from the profits of the trade of the previous tax year.Step 3Deduct any part of the relievable loss not deducted at Step 1 or 2 from the profits of the trade of the tax year before the previous one.Step 4Deduct any part of the relievable loss not deducted at Step 1, 2 or 3 from the profits of the trade of the tax year before that one.Other claimsIf the relievable loss has not been deducted in full at Steps 1 to 4, the person may use the part not so deducted in giving effect to any other relief under this Chapter (depending on the terms of the relief).