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Trading Losses -S.64 Left over Partial Claims

This topic has 1 reply, 1 voice, and was last updated 14 years ago by zahidkhan2.

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December 28, 2010 at 9:44 am #47076
zahidkhan2
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As I understand it you are not allowed Partial Claims and only allowed to carry back 12months …however say if you made a loss in 2008/09 20,000 and you income in 2006/07 was 22,000 what would you do with the 2,000 excess .Is this lost or can you make a S.83 claim the next year?
December 29, 2010 at 2:08 pm #75477
zahidkhan2
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Hi thank you for your reply .I understand so it can only be either carried forward fully or back fully not both.
Thank you very much your answer has really cleared up my misunderstanding!
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