I am advised by Revenue that, in accordance with capital gains tax legislation, allowable losses arising on disposals of other types of assets may not be set off against chargeable gains arising on disposals of development land.
However, allowable losses arising on disposals of development land may be set off against chargeable gains arising on disposals of development land. In addition, allowable losses arising on disposals of development land may also be set off against chargeable gains arising on disposals of assets that are not development land.