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of <h1>Speculation business losses only set off against other speculation profits; unadjusted losses carried forward up to four assessment years</h1> Losses from a speculation business may be set off only against profits of another speculation business; any unadjusted loss is carried forward, year by year, to be set off only against future speculation business profits until fully absorbed. Depreciation and scientific research capital expenditure follow the carry-forward rules applicable to other businesses. Losses can be carried forward for a maximum of four assessment years immediately succeeding the year in which the loss arose. A company whose business partly consists of buying and selling shares is treated as carrying on speculation business to that extent for these rules.
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