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Trading loss relief against general income

This topic has 2 replies, 2 voices, and was last updated 7 years ago by Tax Tutor.

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November 28, 2015 at 5:39 pm #285989
Boyd
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- Topics: 6
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It’s a P6 question but I think an F6 topic anyway.
How many years can I carry back a trading loss to set against general income?
The book says current and preceding year as does HMRC guidance but question 2 Dana 12/12 past exam set a 15/16 loss against income in 12/13 I’m sure so I’m now confused?
Would appreciate any help 😮
November 28, 2015 at 5:54 pm #285998
Boyd
Member
- Topics: 6
- Replies: 20
I worked this out. It was because of early trading loss relief it could be carried back 3 years.
November 30, 2015 at 2:11 pm #286428
Tax Tutor
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Self help is a great thing eh! Yes it’s opening years relief being applied.
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