Case I Losses

If an individual incurs a loss in any year, am I correct in presuming that they can offset this loss against PAYE income/rental income in the same yr under a S381 claim. Additionally, does this also apply to a spouse who incurs a loss, can this loss be offset against husbands PAYE income to result in a refund under the same S381 claim?

Thanks

Your understanding is correct. Just be careful to review the FA 2014 restrictions on use of losses though.