Hi,
Anyone disagree with the general understanding that charitable donations can be relieved only after all other losses relieved except for Group Relief?
Specifically, that trading losses carried back to the previous AP must cover all trading profits in that earlier AP and effectively displace any relief for charitable donations previously given in that earlier AP - a potential "waste of losses", but tough (if you want to make the claim).
From dim and distant memory, this was a distinguishing feature between old "trade charges", which were NOT displaced by trading losses brought back, and "non-trade charges", (such as charitable donations in the 'old' regime), which were.
I'd be grateful to know if anyone agrees / disagrees.
With thanks and regards,
Lambs
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