Commentary

D7.944 Calculation of profits—management expenses, losses, capital allowances

Corporate tax
Corporate tax | Commentary

D7.944 Calculation of profits—management expenses, losses, capital allowances

Corporate tax | Commentary

D7.944 Calculation of profits—management expenses, losses, capital allowances

A contractor's ring fence profits can not be reduced by expenses of management of an investment business1, non-trading losses on intangible fixed assets, UK property business losses, or non-decommissioning losses of ring fence trades2.

Contractor ring fence losses can be carried back for offset generally against profits including profits arising outside the contractor ring fence. Contractor ring fence losses can also be carried forward and set against subsequent contractor ring fence profits. Although, for accounting periods commencing on or after 1 April 2017, the offset of losses carried forward (either pre or post

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial