Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › First four years special relief
- This topic has 1 reply, 2 voices, and was last updated 1 year ago by  JillyB. JillyB.
- AuthorPosts
- February 22, 2024 at 3:45 pm #700894Anonymous Inactive- Topics: 53
- Replies: 46
- ☆☆
 Q13 MAX, page #329 , the loss relief for 2021/22 is given against 18/19, 19/20 and 20/21 Why isn’t it 19/20, 20/21 and 21/22 , don’t we use total income of current tax year? Page #238 answer to eg 5 Loss relief for 2020/21 is seta against 18/19, 19/20, and 20/21 ? 
 Which is the correct one? Do we include current year tot income? Or the prev 3 years?Special loss relief arising in first 4 tax years Suppose trading started on tax year 2018 
 Relief is given only for 2018,19,20 and 21 ?
 Loss in 21/22 set against 18/19,19/20,20/21Loss in 20/21 set against 19/20, 20/21 Is it like that? The rule is loss carried back three tax years, but we have applied it differently in both questions.. I didn’t understand.. February 26, 2024 at 5:12 pm #701203Carry back of losses in the first year of trade – FIFO so 18/19 first. 
 This is a separate loss that can be claimed from CY and/or PYThe rules are clear – follow them. The question may have different circumstances 
- AuthorPosts
- You must be logged in to reply to this topic.

