The Bookkeepers.Network (BKN) Home

Post Info TOPIC: Loss On Cessation


Member

Status: Offline
Posts: 15
Date:
Loss On Cessation


Hi All,

Any advice on the following would be greatly appreciated.

I have a client who has a loss carried forward from last year 2015/16.

Can anyone tell me if he ceases trading in 2016/17, can this loss be relieved ?

Kind Regards

Stephen



__________________


Senior Member

Status: Offline
Posts: 217
Date:

Hi Stephen

My understanding isyou can carry forwardyour losses and set against profits of the same trade and inyour final yearyou can claim terminal loss relief



__________________

Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Member

Status: Offline
Posts: 15
Date:

Thanks Doug,

Just as I thought. Much appreciated.



Regards
Stephen

__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  

2017 The Bookkeepers.Network (BKN). All Rights Reserved. The Bookkeepers.Network (BKN) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. St Brandon's House, 29 Great George St, Bristol, BS1 5QT, United Kingdom. The Bookkeepers.Network and BKN are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Bookkeepers.Network. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Bookkeepers.Network. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: info@bookcert.co.uk.