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Part time farmer has the following profit/losses and capital allowances over the last four years( not a commencement situation) : 2015: Loss €1000, CA €500 2016: Profit €1000, CA €2000 2017: Profit €1000, CA €2000 2018: Profit €1000, CA €2000 He has claimed loss relief against paye income of €1500 in 2015, €1000 in 2016 and €1000 in 2017. Since the farm activity has been making a trading profit before capital allowances in 2016 and 2017, can he claim another loss relief of €1000( €1000 profit less €2000 CA) in 2018, or are capital allowances taken into account in determining whether he has already used up his three year entitlement to loss offset by claiming it in 2015, 2016 and 2017?

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Asked on 9 October 2019 2:29 pm
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