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CAP – limit of loss relief

This topic has 1 reply, 2 voices, and was last updated 7 years ago by Tax Tutor.

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June 27, 2017 at 8:10 am #394182
kaczorek0218
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Does the subject cap also applies to non – trading profit in terms of carry forward of trading losses? or only current and proceeding year?
🙂
June 28, 2017 at 10:14 am #394256
Tax Tutor
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Think about your question – the carry forward of a trading loss may only be set off against future TRADING profits!
It is only in the current and preceding year claims that we set off against TOTAL INCOME
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