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Unused indexation losses from 1993-94 can be carried forward to 1994-95. But unused indexation losses, from either 1993-94 or 1994-95, cannot be carried forward beyond 1994-95. If, in the example at CG17831, there had been £3,800 of indexation losses in 1994-95 instead of £2,800, D’s chargeable gains for 1994-95 would have been reduced from £3,200 to Nil. But there would be no further relief available for the £600 excess of D’s indexation losses.

Other CG losses brought forward

»Ê¹ÚÌåÓýapp transitional relief described above is to be given before any allowable losses brought forward from an earlier year, see CG21500+, or - exceptionally - carried back from a later year under TCGA92/S62 on an individual’s death, see CG21550+. If, in the example at CG17831, there were losses of £4,000 brought forward from earlier years, say 1992-93:

• none of these losses brought forward would be used in 1993-94;
• £400 of the losses brought forward would be used in 1994-95 to cover the gains subject to CGT in that year.

»Ê¹ÚÌåÓýapp balance of the losses brought forward, £3,600, would be carried forward to later years.