Losses brought forward

Posted by thacca PM | on Wed, 18/01/2012 - 15:56 972 3 comments | report

My client has trade losses brought forward of £30,562. Curreny year profits are £23,407. My tax software (BTC) is forcing me to offset the whole £23,407 of brought forward losses against this years profit. Is that correct? can I not restrict the loss off set so as not to "waste" the personal allowance of this year?

Comments

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The tax software is correct.

dreamcatcher | Wed, 18/01/2012 - 16:16

agree

TheBooks | Wed, 18/01/2012 - 19:46

Tax planning - Capital Allowances

DMGbus | Wed, 18/01/2012 - 21:11