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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