This hasn't been visited for many years and I'm still unsure of the position.
Client had two Sched D sources in 2016/17, (a) a profit of £12000 and (b) a profit of £11000. Losses B/Fwd were £9500, so c£2600 was taxable and Class 4s were charged on £5500 @9%.
This year the results were (a) £8000 and (b) a loss of £3000, so £1800 is being carried back to 2016/17. This will reduce the taxable amount and result in a repayment of tax, but what about the Class 4 position?
Can the loss be used to reduce the charge for 2016/17? Will the loss be available against future Class 4?
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