Can I offset part of losses b/fwd to retain benefit of £10k at 0%?
Probably basic stuff, but it's a few years since I qualified, and now only doing accounts for my own business - have trawled through Any Answers, and IR web-site, but 2 hours later, still clueless! (Bless!).
Situation is... limited company has brought forward losses of £39k. Current year (to 31/12/05) profits (phew) of £18k. Haven't claimed any capital allowances yet, either. Can I just offset £8k of the losses so that I still have my £10k at 0%? (Making the most of it before it disappears). Or do I have to take the full £18k? Would it be better to hold on to the losses until the £10k band disappears next year and cough up the tax on the current year's profits (and claim the capital allowances)?
Would be grateful for some help. Thanks so much.
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