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  • Farmers Averaging + Losses

    I have a farmer with a large loss in the tax year, circa 200k (2022/23) I am electing to average profits, after averaging profits are circa 85k and I then need to deal with the loss claim. Am I able to claim 85k of losses against profits in 2022/23 and a further 85k of losses against the now averaged profits of 2021/22? Or does the sideway loss relief rule restrict the claim to 50k for each of 2022/23 and 2021/22?