How to utilise Capital Losses
Article ID
ias-12220
Article Name
How to utilise Capital Losses
Created Date
31st December 2015
Product
IRIS Business Tax
Problem
How can capital losses be utilised?
Resolution
Capital losses may be deducted from gains chargeable in the year in which the losses are incurred:
– These losses are to be entered in box 17 of the CT600.
Any unused losses may be carried forward to be deducted from gains in later tax years:
– These losses are to be entered in box 17 of the CT600.
Note:
– Capital losses can never be carried back.
– Capital losses can never be offset against any other income, except by an investment company in special circumstances.
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