selling your losses to another company
have a client selling his restaurant business. he told me a while back it was possible to ''sell'' to another unrelated company the losses you make. he is selling his business at a loss.
is this possible and if yes, could you please point to some reference material
many thanks in advance
Not anymore
There used to be some tax planning schemes around which allowed a company to effectively sell it's tax losses. That was blocked by new legislation, and another scheme was established which did something similar, which has also been blocked.
Currently, there are virtually no sensible schemes which achieve this result. Which is good in my view, because the tax planning was abusive.