RPGT - Allowable loss
3 important questions on RPGT - Allowable loss
What is an allowable loss treated as in real property gains tax?
An allowable loss is treated as a tax relief. It can be deducted from the chargeable gain after the schedule 4 exemption claim
Can allowable loss be carried forward, and if so, how?
Any excess loss can be carried forward to set off against future chargeable gains from disposal of other chargeable assets until fully absorbed
What are the conditions under which an allowable loss is not tax relief?
Allowable loss is not tax relief if it cannot be carried backward to set off against earlier chargeable gain or if the disposal was not included in a return or is a disposal of shares in a real property company.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
Remember faster, study better. Scientifically proven.
