Schedule A Losses..

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:09AM in AAT student discussion
I am confused! It does not take much, my brain is in meltdown!<BR><BR>When Schedule A losses are carried forward, are they:<BR>a) Offset against Total income (as long as there is still a schedule A income in the year)<BR>b) Just offset against Non trading income<BR><BR>As I have two conflicting answers in my notes!<BR><BR>Is this the same for companies and individuals?<BR><BR>If anyone knows I will be most grateful!!!!<BR><BR>Ta <BR><BR>Bec

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Schedule A Losses..

    Hi<BR><BR>As far as I can remember Sch A losses could only be offset against Sch A income(non trade) for the following year- not any other type. So a) would be correct, but only under the first column non trade - hope this helps.

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