Clause 54 - Trading profits etc. from securities: taxation of amounts taken to reserves
Finance Bill (except clauses 4, 5, 20, 28, 57 to 77, 86, 111 and 282 to 289, and schedules 1, 3, 11, 12, 21 and 37 to 39)
3:15 pm
Mr Howard Flight (Shadow Chief Secretary To the Treasury, Economic Affairs; Arundel and South Downs, Conservative)
The thought crosses my mind that the same would be true in reverse. Selling an asset sold when the booking to reserve is negative may result in an entirely questionable loss to be offset.