This example illustrates a point made in C1.206.
Example 1—carry back of losses arising to the deceased in the tax year of death (up to the date of death)
Kate, who is UK resident and UK domiciled, died on 1 October 2024. Her chargeable gains and allowable losses are as follows:
| Gains | Losses |
| 2023/24 | £4,500 | £23,000 |
| 2022/23 | £20,400 | £2,800 |
| 2021/22 | Nil | £14,000 |
| 2020/21 | £30,600 | £5,000 |
Assume
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