Losses: carried back
In general, losses cannot be carried back to earlier years of assessment. There are, however, a few exceptions:
Net losses which accrue to an individual in the year in which he or she dies may be carried back and relieved against chargeable gains of the 3 years preceding the year of death, see CG30430+
A terminal loss claimed on the termination or expiry of a mineral lease may be carried back and deducted from certain chargeable gains accruing in earlier years, see CG71751
Subject to conditions, an election may be made for a loss accruing on a disposal of certain rights to deferred unascertainable consideration to be deducted from chargeable gains accruing in previous years, see CG15080+.