Overlap profit in final year of trading

Overlap profit is greater than tax due in final year of trading,

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I am a partner in a firm.  We had a very good first year such that I have a large amount of overlap profit for Aug-April period. I will be leaving the partnership this month but we have had a poor earnings year such that my tax will be much less than the overlap profit I originally paid ie I will have more relief than I can use. I gather is an unusual situation and I cannot find out much information on it.  Can I apply to get the residual relief back or will it be lost to HMRC? 

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By Matrix
22nd Aug 2018 21:13

Your accountant will be able to help you on preparation of your tax return since it will depend on what other income you have this year. Any unrelieved losses may be available for carry back.

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