Can unused/unclaimed capital allowances from previous tax years be claimed in a future year?
In 2019 and 2020, they were not required to reduce a tax liability so were not accounted for.
Is it permitted to use these unclaimed years for the 2021 tax year-capital allowances for 2019/20/21 claimed for the 2021 tax year?
Or are they lost and only the capital allowances for 2021 can be claimed?
If not, how does the 12.5% over 8 years work-is it "paused" for the years unclaimed and therefore extended by 2 years or are those years also lost ie only 6 years can be claimed?
Thanks in advance.
In 2019 and 2020, they were not required to reduce a tax liability so were not accounted for.
Is it permitted to use these unclaimed years for the 2021 tax year-capital allowances for 2019/20/21 claimed for the 2021 tax year?
Or are they lost and only the capital allowances for 2021 can be claimed?
If not, how does the 12.5% over 8 years work-is it "paused" for the years unclaimed and therefore extended by 2 years or are those years also lost ie only 6 years can be claimed?
Thanks in advance.
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