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.

Sue Hill

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ACDWebb |
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sue.hill |