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HI SIR. I HOPE YOU ARE DOING GOOD.
IN THE EVENT WE MAKE CLAIM AGAINST THE TOTAL INCOME OF BOTH PRECEEDING AND CURRENT YEAR,WHICH OF THE TWO YEARS’ GAIN WILL WE CLAIM THE REMAINING LOSES? OR SHOULD WE JUST CARRIED FORWARD AND CLAIM AGAINST FUTURE TRADING PROFITS? PLS CLARIFY THIS PART.
THANKS.In your example as claims have already been made against total income in both tax years you can choose to claim the relief against chargeable gains in either tax year – the requirement to be able to make that claim is simply that for the tax year in question you have already made a claim against total income.
If you do not wish to make such a claim then the loss will be carried forward
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