BLM72100 - Schedule 12 FA 1997: relief for set-offs against rentals: interaction with general CGT rules

FA97/Sch12/Para12(3) and (4) deal with the interaction of the relief provided under the paragraph and relief under the general rules in the capital gains code excluding sums taken into account in computing income (TCGA92/S37- CG 10260 onwards):

• Paragraph 12(4) prevents relief from being given under the general rules for sums representing cumulative accountancy rental excess deductible under paragraph 12(1) on a current or previous disposal.
• Paragraph 12(3) ensures that relief under S37 for any other sums which meet the relevant conditions remains available.