Just submitted a return with a large 13/14 trading loss. After sideways relief for 13/14 against other total income there were unused losses available to carry back against total income (excluding capital gains I believe) to 10/11, 11/12 and 12/13. Total income for 10/11 was totally extinguished and the balance of losses set against some of the income for 11/12.
Since 11/12 included a small amount of employment income but a much larger trading profit upon which class 4 had been paid, does anyone know how the offset is apportioned? Unless I've missed something there could be a difference in tax relief dependent upon the offset due to class 4 only applying to the trading profits.