sole trader with 2 separate businesses

sole trader with 2 separate businesses

Didn't find your answer?

If a soletrader has 2 distinctly separate businesses am i right in saying that the losses in one can be offset against the profit in the other arising in the same tax year ?

Am i also right in saying that if one of the businesses has a loss brought forward then this loss can only be offset against future profit in that particular business (and not offset against future profit of the other business) ?

Thank you

Replies (2)

Please login or register to join the discussion.

Euan's picture
By Euan MacLennan
26th Jan 2012 17:07

Yes & Yes

.

Thanks (0)
Replying to Comptable:
avatar
By richyrichthe3rd
26th Jan 2012 17:54

Many thanks

Thanks (0)