{"id":567,"date":"2016-11-03T00:00:00","date_gmt":"2016-11-03T00:00:00","guid":{"rendered":"http:\/\/slacc.co.uk\/index.php\/limits-on-certain-claims-for-tax-relief\/"},"modified":"2016-11-03T00:00:00","modified_gmt":"2016-11-03T00:00:00","slug":"limits-on-certain-claims-for-tax-relief","status":"publish","type":"post","link":"https:\/\/slacc.co.uk\/index.php\/limits-on-certain-claims-for-tax-relief\/","title":{"rendered":"Limits on certain claims for tax relief"},"content":{"rendered":"<p>\n\tFrom 6 April 2013, the total amount of certain Income Tax reliefs that can be used to reduce your total taxable income is limited to &pound;50,000, or 25% of your adjusted total income, if higher.<\/p>\n<p>\n\tThe main reliefs subject to this limit are:<\/p>\n<ul>\n<li>\n\t\ttrade loss relief against general income and early trade losses relief &#8211; claimed on the self-employment, Lloyd&rsquo;s underwriters or partnership pages<\/li>\n<li>\n\t\tproperty loss relief (relating to capital allowances or agricultural expenses) &#8211; claimed on the UK property or foreign pages<\/li>\n<li>\n\t\tpost-cessation trade relief, post-cessation property relief, employment loss relief, former employee&rsquo;s deduction for liabilities, losses on deeply discounted securities and strips of government securities &#8211; claimed on the additional information pages<\/li>\n<li>\n\t\tshare loss relief, unless claimed on Enterprise Investment Scheme (EIS) or Seed Enterprise Investment Scheme (SEIS) shares &#8211; claimed on the capital gains summary pages<\/li>\n<li>\n\t\tqualifying loan interest &#8211; claimed on the additional information pages<\/li>\n<\/ul>\n<p>\n\tThese restrictions do not apply to Gift Aid relief; nor pension contributions which have their own limits.<\/p>\n<p>\n\tIt is worth considering these restrictions as they may limit your ability to recover a proportion of cash lost by claiming a reduction in tax payable on future or past income and\/or gains.<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>From 6 April 2013, the total amount of certain Income Tax reliefs that can be used to reduce your total taxable income is limited to &pound;50,000, or 25% of your adjusted total income, if higher. The main reliefs subject to this limit are: trade loss relief against general income and early trade losses relief &#8211; [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-567","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=567"}],"version-history":[{"count":0,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/567\/revisions"}],"wp:attachment":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}