archivetax relief

I am a member of an accountants' network group. We think your advice in a recent column on the treatment of losses on the sale of a section 23 property is incorrect. The capital loss on disposal of a section 23 type property is reduced by the amount of section 23 relief claimed against rental income. This results in no allowable loss to carry forward or set off against other gains. See Taxes Consolidation Act 1997, section 555 and section 372AP(13/13A). If the relief claimed on a section 23 property...