The overlap period is from 1 June 2021 to 5 April 2022 and 1 May 2022 to 31 May 2022 (a total of 11 months).
(2). The loss can be offset against general income of 2020/21 (the year of the loss) and/or 2019/20 (the previous year).
Where a claim has been made against general income, a further claim can be made against the chargeable gains of 2020/21 and/or 2019/20.
The loss can be offset against general income of 2017/18, 2018/19 and 2019/20 (the three years prior to the year of the loss on a first in, first out basis).
Any loss remaining will be automatically carried forward against future profits of the same trade.