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Loss Reliefs

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Loss Reliefs

  • This topic has 2 replies, 2 voices, and was last updated 7 years ago by mjibola.
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  • April 20, 2018 at 8:33 am #448228
    mjibola
    Participant
    • Topics: 131
    • Replies: 135
    • ☆☆☆

    I don’t understand opening year loss reliefs

    How can you claim opening year losses for 3 preceding tax years when you have not started trading during those periods?

    April 23, 2018 at 4:24 am #448492
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Going back to my earlier comments re your question on higher skills – this shows that you have basic technical weaknesses that you need to deal with.
    Have you worked through all / any of the lectures?

    April 23, 2018 at 9:59 am #448515
    mjibola
    Participant
    • Topics: 131
    • Replies: 135
    • ☆☆☆

    Yes I have and I see that the terminal loss relief from the self-employment in your example was taken three years backwards to offset employment income in the past. I hope this is what you meant.

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