Trading losses are they after Annual Investment Allowance?
Can anyone confirm using the figures below, what is the trading loss that can either be carried forward or set off against earlier years income:
Profit per accounts £3,800
Less AIA (capital expenditure) £5,300
|Net business loss for tax purposes £1500|
Is the trading loss £1,500 or is it actually a profit of £3,800?
If it is a loss of £1500, I want to offset this against prior years tax paid under PAYE, if I can. This is the first year of trade.
Frustrated as I cannot see an clarity on HMRC's site to this rather basic point!
Sorry if I am being stupid.
- Bank interest in 'near' facility recall situation 199 1
- Tax deductable portion of home rental cost 189 9
- JIEB Exams 131 1
- RTI 85 1
- Christmas party 100 1
- Am i Liable? 108 4
- Fee agreed but client disagrees on amount 738 10
- Checking a contract 293 8
- Flat Rate Scheme 310 15
- Altered PAYE cheque 230 5
- deleting customers on Sage 50 160 7
- VAT on garage rent 324 14
- Value-shifting 63 1
- Pattern for CTA 207 4
- Debiting private use proportion to directors loan account 450 18
- SDLT exemptions/reliefs 84 2
- Incorrect Accounts. Is it worth taking action against the old accountant? 228 3
- Film Partnership Enquiries - am I just unlucky? 241 5
- EBT 179 1
- Giving a seminar 529 28
- Desperately seeking Susan, Sam or anyone with any other name 1,210
- Experience with Islamic investor following Sharia-compliant rules? 608
- Darwinpay Partnership Assessment 407
- S464A Charge to tax: conferring benefit & BIK 314
- Agent fees to sell business 189
- Alphabet shares 189
- ACCA continuity of practice arrangement needed 182
- Quirky thread of the year: Community Awards 175
- VAT codes In Sage. Am I correct? 163
- Office recharges 147