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suppose if we have three periods
y/e 30.9.09
p/e 31.3.10 ( 6 months)
y/e 31.3.11
if a trading loss arises in y/e 31.3.11 how we will carry back it? please give the reason as well !! thank youThe trading loss must be offset in the current year first. Any remaining losses can then be carried back against the 6 M to 31/3/10 then carried back against 30/9/09 but maximum offset is 6/12 of the total income and gains before gift aid. That way the loss has been carried back 12 months
Hope this helps
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