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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 😮
I worked this out. It was because of early trading loss relief it could be carried back 3 years.
Self help is a great thing eh! Yes it’s opening years relief being applied.