When it is mentioned as soon as possible, does that mean that if the losses can be offset against the current year, we should do that immediately? regardless of the fact that next year the company might be more profitable and we can deduct capital losses from that first?
Thank you.
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Loss relief
2mo ago#1As soon as possible = all available claims are made.
So trading losses: CY then CB then CFWD.
You mentioned capital losses; capital losses MUST be offset firstly against capital gains of the same period and then any excess is carried forward against future capital gains (automatic, not a claim).
Oh I'm sorry I accidentally mentioned capital.
I've understood.
But it should always be CY first?
2mo ago#3For a company; yes. A CB claim can only be made AFTER a CY claim.
Thank you once again
2mo ago#5No problem.
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