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Hi! On the acca website it says
Losses carried forward can be set against future profit of the same trade. S83 loss claims (carry forward) are automatic, but a claim must be made to establish the amount of loss to be carried forward. The claim must be made within four years from the end of the tax year in which the loss arose.
Why does a claim need to be made if the claim is automatic? And what does it mean to establish the amount of loss if its automatically carried forward and no partial offsets are allowed?
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