Cap on Income tax relief

Hope this is not too late and I am assuming your question relates to the cap applied on income tax loss reliefs in the current tax year and preceding tax year.
The £50,000 limit is likely to be the relevant limit to apply and it simply restricts to a max of £50,000 the amount of loss that may be applied against NON TRADING income, so that if in the preceding tax year there is a trading income assessment of 30,000 and the total non trading income is say 70,000 then the max loss that may be applied is 80,000 – this being all the 30,000 trading income (no restriction) but the set off against the 70,000 non trading income is capped at 50,000.
Thus a total claim of 80,000 would be allowed, This would leave 20,000 total income so would mean that the PA is not wasted so the cap may well be beneficial for the taxpayer!
Hope the exam goes well for you and for all your fellow students who have put so much effort into their studies – good luck!!