BIM80135 - Case VI: General: income against which relief given

Subject to the following sub-paragraph, Case VI losses relievable under BIM80130 may, on a claim, be set against income charged under Case VI for the same year. Any remaining surplus may be carried forward and set against income charged under Case VI for later years (taking the earliest such year first, and so on).

It should be noted that Case VI losses cannot be set against Case VI charges which arise from computational adjustments as opposed to those resulting from transactions, e.g. recoveries of reliefs which have been over-allowed. Nor can they be set against recoveries of over-repayments or amounts given in terms tax, which do not form part of the taxpayer's total income.