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CAN YOU CLAIM BACK OVERLAP PROFITS WHEN INCORPORATING

CAN YOU CLAIM BACK OVERLAP PROFITS WHEN...

One of my clients is looking at incorporating his business. I noticed overlap profits brought and carried forward for a number of years. Can these be reclaimed to reduce taxable profits during the final year of trading before incorporation

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By BKD
28th May 2012 11:36

Yes

As far as the sole trade is concerned, it's a cessation.

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