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In tradin loss partial claim are not allowed.can anyone explain me partial claim by giving example? Thanks
Taken from HM’Revenue and customs (www.gov.uk).
Where a claim is made to have the losses set against general income or chargeable gains of a particular tax year they have to be set as far as possible against that income or chargeable gains. In other words it is an ‘all or nothing’ claim and this may result in personal allowances or the annual exemption not being utilised.
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