GAWD.... I'm getting worried. I thought there were certain very clearf indications for ring fencing, ie only above a certain amount, only in certain trades, losses in x out of y years etc. and I didn't think I'd "qualify" for ring fencing. Jaysus.... and why do they always have to take 89 & 3/4 days with my assessment!!! One other thing I wondered about. I called the call centre and it sounded like the person on the other side understood my query. For your total tax liability... if you have a loss (or assessed loss) in one category, like share trading, then is that offset against net income from anothers source, eg an annuity. She clearly said yes. I can understand that you can't offset an expense from one category against income from another ie you can't deduct say depreciation on your pc which you use for trading against say income derived from .... eg. farming. I thought if I have a small income from annuity, and a gargantuan nett trading loss, my total tax liability is 0?
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