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Carry back |
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Carry backA term applicable to personal pensions regarding tax rules which allow contributions made in the current tax year to be treated as though they were paid in the preceding tax year. If there were no net relevant earnings in the preceding year, the contribution can be carried back a further year.The advantage of taking up this choice is that tax relief is obtained at the highest rate applicable in that previous year. For example, if an individual's earnings have fallen such that he/she is no longer a higher rate taxpayer, carry back of contributions will obtain tax relief at the highest rate.Similar MatchesPositive carryPositive carryRelated: Net financing cost CarryCarryRelated: Net financing cost. CarryforwardsCarryforwardsTax losses allowed to be applied to offset future income in some specified number of future years. Cash and carryCash and carryAn arbitrage transaction applied on a futures market where the cash or spot price of for example, a commodity is less than the futures contract price.Under these circumstances a purchase of the cash commodity with borrowed money and the simultaneous sale of the futures contract can provide a profit. Carrying chargeCarrying chargeThe fee a broker charges for carrying securities on credit, such as on a margin account. Further SuggestionsTax loss carryback, carryforwardCost of carry market carrying broker Loss Carry Back (Carry Forward) Owner Will Carry Mortgage Cash & carry Net operating loss carryforwards Carrying costs Cost of carry carrying charges Carrying value carry forward Carrying Charges Net operating loss carrybacks |
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