Revenue Precedent

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Revenue Precedents

Where a claim is made to have excess capital allowances set off against other income in a year and there are still excess capital allowances remaining and they are carried forward can they go against other income? No, the excess carried forward can be set against income from that specified class only. IT953505

What is the order of set off if you have losses carried forward and also current year Case V capital allowances? Firstly use current year Case V capital allowances against Case V income and then losses coming forward. GD97082