Hello all
A sole trader made a loss in the first year and therefore qualified for special rules and took the loss 3 years back in FIFO basis.
Second year, he also made loss and wants to carry back another 3 years to claim the tax that is paid to be refunded.
Is this doable?
Kind regards
Arj
Ask the Tutor ACCA TX-UK
Trading loss in first 4 years for sole trader.
Have you watched the lectures and/or worked chapter 7 example 5?
Sign in to reply to this topic.