Losses

Losses

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In an on going business where say a loss of £2000 has been made in 2004/5 and a £1000 loss in 2005/6, can you carry forward the 2004/5 loss (under S385), and claim the 2005/6 loss under S380 thus carrying forward the £2,000 loss from 2004/5 to set against any future profits?
Ian Riley

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By AnonymousUser
15th Nov 2006 12:57

AFAIAA

Without research to check, AFAIAA yes you can. Each year is a standalone independant claim.

 

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