Definitions for "Carry Back"
The term used for the exercise of taking up unused pension relief from the previous tax year. This facility was abolished as from April 6th 2006.!-- google_ad_client = "pub-3741906632505873"; google_ad_width = 336; google_ad_height = 280; google_ad_format = "336x280_as"; google_ad_type = "text_image"; google_ad_channel =""; google_color_border = "FFFFFF"; google_color_bg = "FFFFFF"; google_color_link = "0000FF"; google_color_url = "999999"; google_color_text = "000066";
deduct a loss or an unused credit from taxable income for a prior period
A member can sometimes transfer pension contributions to an earlier tax year for tax relief purposes. This is called carry back. The carry back rules no longer apply after 31 January 2002.
Carry Back (1958-1983) was an American Hall of Fame Thoroughbred racehorse with a less than stellar pedigree but who nonetheless won many important graded stakes races including the 1961 Kentucky Derby and Preakness Stakes. In the Belmont Stakes, Carry Back finished seventh in a nine-horse field, 14 lengths behind winner Sherluck, whom he had soundly beaten in the first two U.S. Triple Crown races.
Keywords:  agrees, finance, complete, seller, sale
Seller agrees to finance buyer in order to complete a property sale.