Sign-in Help
Commentary

20.3 Loss relief

BUSINESSES vol 4(2) start-up, sale and purchase
BUSINESSES vol 4(2) start-up, sale and purchase | Commentary

20.3 Loss relief

BUSINESSES vol 4(2) start-up, sale and purchase | Commentary

20.3 Loss relief

Where a company incurs a trading loss in any accounting period, it has very similar options as a sole trader or partner1 as to how to set off that loss. In other words, it may carry the loss across and set it off against profits of whatever description in the accounting period of the loss2. Alternatively, or in addition, if some of the loss remains unrelieved, the loss may be carried back and set off against profits of whatever description of the preceding accounting periods falling wholly or partly within the period of 12 months immediately preceding

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial
EXISTING USER? SIGN IN TAKE A FREE TRIAL TAKE A FREE TRIAL
Stop drafting from scratch and work more productively.
Offering an unrivalled collection of non-litigation precedents for everything specialist and generalist practitioners are likely to encounter.
TAKE A FREE TRIAL Take a free trial Take a free trial