Tax Losses – Preceding, Current & Carry Forward Relief (March 20 exam)

Good Morning,

I am currently studying for the Tax UK paper in March 20. I am primarily using Open Tuition Notes & Lectures, however also purchased Kaplan Study Material just in case I need more understanding on a topic area.

The 1st issue which may in itself be the answer is that I accidentally purchased the Kaplan materials based on the Finance Act 19, however have been working around that challenge.

The Relief is as follows
C/fwd
Open Tuition – used against first future trading profits in full
Kaplan – used against future trading profits ‘BEFORE QUALIFYING CHARITABLE DONATIONS’. ALSO SAYS YOU CAN RESTRICT THE AMOUNT YOU USE, IE DON’T USE IT ALL AND SAFE FOR FUTURE YEARS?

Current/Preceding
Open Tuition – Use against Total Income (after qualifying int)
Kaplan – Use against ‘TOTAL PROFITS BEFORE QUALIFYING CHARITABLE DONATIONS’

Has the rules changed and in essence I just focus on the OT study info?

Heeeelp please 🙂

Regards
Craig