Schedule DV Losses
Article ID
ias-5565
Article Name
Schedule DV Losses
Created Date
29th February 2008
Product
IRIS Business Tax
Problem
How can Schedule DV losses be utilised?
Resolution
Sch. DV losses can only be relieved against Sch. DV profits from the same trade or property:
– This loss is to be netted against DV profits and entered in Box 9 of the detailed CT600 (S392B ICTA 1988).
Any loss on an overseas property (including caravans and houseboats) can be carried forward and set against future profits from the same property. The loss cannot be set against any other income of the same year.
The offset of relief against profits is not allowed in any circumstances for Schedule D Case V losses (S393A (3) ICTA 1988).
We are sorry you did not find this KB article helpful. Please use the box below to let us know how we can improve it.
