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Overlap Relief

T.C.T.C. Experienced MentorRegistered, Tutor Posts: 1,448
Mind block today - I have taken a new client who has supplied me with a copy of his last tax return. There is an overlap relief carried forward - what do I do with this?...carry it forward again?

Comments

  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Yes. You carry any overlap profit forward until they can use the relief - which is on cessation, or partially on change of accounting date.
  • T.C.T.C. Experienced Mentor Registered, Tutor Posts: 1,448
    Thank you!
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