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Cap on total income

This topic has 3 replies, 2 voices, and was last updated 7 years ago by Tax Tutor.

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August 17, 2017 at 7:37 pm #402254
zkaay
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Hi tutor,
in which cicumstance we use cap rules for loss relief ??
The question name smantha, in kaplan kit they use rules of cap
However in bpp kit in approximately same q but diff figures they used normal rules. Against total income then carried forward.
I’m stuck plz clarify.
August 20, 2017 at 4:43 am #402536
Tax Tutor
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I do not have those kits so cannot answer your question from what you have told me
August 24, 2017 at 9:15 pm #403382
zkaay
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Could u answer in which cicumstance we use cap rules for loss relief ??
August 26, 2017 at 4:30 am #403578
Tax Tutor
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It is used when applying relief against total income of current tax year or preceding tax year and is applied as per OT course notes p.49, section 4 (c) and as demonstrated in the illustration Louise Serr
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