• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • FIA Forums
  • CIMA Forums
  • OBU Forums
  • Qualified Members forum
  • Buy/Sell Books
  • All Forums
  • Latest Topics

September 2025 ACCA Exam results

Post comments & Instant poll

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for December 2025 exams.
Get your discount code >>

Relief against general income and capital gains: Restrictions

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Relief against general income and capital gains: Restrictions

  • This topic has 2 replies, 2 voices, and was last updated 6 years ago by thnguyen.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • November 12, 2018 at 4:36 pm #484605
    thnguyen
    Member
    • Topics: 15
    • Replies: 9
    • ☆

    For the rule relief is capped at “the higher of £50,000 or 25% of your total income”, does this rule apply to total income and chargeable gains separatedly?

    So for example, we have

    a trade loss of 80,000 (year 17/18)

    A trade income of 21,000 (in 16/17)
    An interest pmt of 52,000 (in 16/17)

    And chargeable gain of 53,000 (in 16/17)

    We will have the total relief as

    100% of trading income relieved
    [+]
    Higher of 50k or 25% total income___general income
    [+]
    Higher of 50k or 25% total income___chargeable gains

    Is this right? Or the rule is applied to the total of taxable income and chargeable gains together, not separately?

    If anyone look for the original version, it’s the revision exercise number 118, Kaplan revision kit.

    November 16, 2018 at 5:43 am #484970
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    The chargeable gains are irrelevant in computing the maximum loss to set against the total income of the tax year

    November 16, 2018 at 7:28 pm #485033
    thnguyen
    Member
    • Topics: 15
    • Replies: 9
    • ☆

    Oh, I see, I thought the restriction was on both general income and capital gains. Thank you very much for your reply.

  • Author
    Posts
Viewing 3 posts - 1 through 3 (of 3 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • marachyz on Group SPL – Example (MYA) – ACCA Financial Reporting (FR)
  • hellokitty7 on FA Chapter 4 Questions Accruals and Prepayments
  • barbaraseweryn on Presentation of Financial Statements (IFRS18) – ACCA Strategic Business Reporting (SBR) lectures
  • zurapirveli@gmail.com on Basic group structures – Impairment – ACCA (SBR) lectures
  • Sid24012003 on MA Chapter 5 Questions Ordering and Accounting for Inventory

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in