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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Tax Adjusted Trading Losses – Individuals
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.
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
Noted with thanks Sir
