Introduction and computation: annual exempt amount: exploitation of annual exempt amount: Annual exempt amount: example
The exempt amount for 2014-15 is £11,000.
C has gains of £13,000 and losses of £3,500 brought forward from earlier years.
The taxable amount, see CG18031, is:
|Taxable amount which is covered by the exemption||11,000|
The losses carried forward are:
|Losses brought forward||3,500|
|Used in the year||2,000|
|Losses carried forward||1,500|