Foreign Branch

Foreign Branch

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Client company has following sources of income

UK Interest

Spain Property Income

Trade carried on in Spain through a branch.

The branch has made a loss for the year, but my software seems to suggest that because it is carried out wholly in spain, it can only be carried forward to offset against future profits.

Is this correct?

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By thisistibi
21st Jun 2012 13:06

No

That's not correct.  Have you entered it as non-trading income by mistake?

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