The act of postponement of the delivery of or payment for the purchase of securities from one settlement cycle to another. On the BSE carry forward is done through the BADLA mechanism every Saturday and on the NSE it is done through the ALBM session every Wednesday.
A Carry Forward is a negotiated endorsement to a policy allowing a member's medical charges incurred in the last 31 days of the expiring policy year to accrue toward the new policy year member's deductible.
Sometimes losses cannot be fully tax relieved in the year they were made. The unused amount is carried forward for tax relief in a later tax year. Some unused reliefs, such as unused personal pension relief can be carried forward, but only for a specific period of time.
A contribution to a personal pension being treated for tax purposes as if paid in the 6 tax years previous to the current tax year. This method of using unused tax relief was abolished after 31 January 2002 for personal pension plans.
Settlement where positions are carried forward from one settlement to another settlement.
The difference between the original budgeted funding and the actual expenses incurred by the completion of a fiscal year. The amount may be either positive or negative.
During a tax year in which an individual has Net Relevant Earnings, contributions may be made to a Personal Pension Plan in line with a set contribution table related to age and the earnings cap. If the whole of the contribution allowance is not used, the unused balance may be 'rolled over' and accumulated for up to six, or possibly seven, years. The phrase 'carry forward' may be somewhat misleading as the accumulated, unused contributions are usually considered in retrospect. From that perspective, they are not so much carried forward as retrieved from the past. In reality, of course, the unused element is rolled over or carried forward.
A member could sometimes transfer excess contributions to a later year to get tax relief. This was called carry forward. The carry back rules no longer applied after 31 January 2002.
In the event of an individual wishing to make a payment to a Personal Pension Plan or Retirement Annuity Contract which is greater than the maximum contribution entitlement for that year, the individual may be able to utilise unused contribution entitlement from the previous 6 or 7 years. This utilisation of unused previous years entitlement is known as Carry Forward.