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Tax Adjusted Trading Losses – Individuals

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Tax Adjusted Trading Losses – Individuals

  • This topic has 2 replies, 2 voices, and was last updated 8 years ago by jonathanforstudying.
Viewing 3 posts - 1 through 3 (of 3 total)
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  • April 11, 2017 at 6:11 am #380830
    jonathanforstudying
    Member
    • Topics: 16
    • Replies: 14
    • ☆

    Hi Sir, can i confirm with you, if i used loss relief against total income for preceding year, if i still have losses to claim, can i carry it forward to offset future profits? Thank you in advance Sir.

    April 12, 2017 at 2:23 pm #381033
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Yes you may claim against total income of the current tax year and / or the preceding tax year and then any remaining loss will be c/f against future trading profits of the same trade

    April 18, 2017 at 9:36 am #382326
    jonathanforstudying
    Member
    • Topics: 16
    • Replies: 14
    • ☆

    Noted with thanks Sir

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