17.6 John dies on 3 March 2017. Between 6 April 2016 and 3 March 2017, he has capital gains of £1,200 and capital losses of £15,400. His net gains in recent tax years (and the annual exemption for each year) have been as follows:

Net gains Annual exemption

£ £

2012-13 52,700 10,600 2013-14 17,400 10,900 2014-15 13,800 11,000 2015-16 3,550 11,100 Explain how (and to what extent) John's net losses in 2016-17 will be relieved.