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A change in time limits for carrying losses forward?

11/01/2018 20:50:02
It looks like there has been a change in time limits for carrying losses forward - in the HS227 sheet from 2016 (https://www.gov.uk/government/publications/losses-hs227-self-assessment-helpsheet/hs227-losses-2016) it says "The time limit for claims against profit of the same trade is 5 April 2020.", whereas the current sheet (https://www.gov.uk/government/publications/losses-hs227-self-assessment-helpsheet/hs227-losses-2017) doesn't say anything about a time limit.

I have two questions related to this:
(1) Am I correct in that now losses can be carried forward against profits of the same trade indefinitely until they're all used up?
(2) What does this mean for losses from last year and before - can this still be carried forward indefinitely, or must I use the losses I reported on my 2016 self-assessment by 2020?

Thanks very much.
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Re:A change in time limits for carrying losses forward?

12/01/2018 13:44:49
Hi there has not been a change in the tax rules regarding losses, sometimes the helpsheets are simply shortened from time to time, which can cause confusion. You are correct in saying that your losses will be carried forward until you have managed to use them with profits from the same trade.

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