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Hello sir
I want to ask why we save personal allowances in trading loss? Why we dont offset against them losses? And also sometime we save in capital gains?Sorry but I don’t entirely understand your question – with trading losses we try to avoid WASTING the personal allowance, the issue being that some of our loss reliefs go against total income and partial claims cannot be made thus meaning that if a loss is bigger than total income the personal allowance will be wasted if we claim the loss relief.
With capital gains you must distinguish between current year losses and brought forward losses.
Have you worked through the relevant OT lectures?
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