Treatment of Trading Losses

Treatment of Trading Losses

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Hi Every body ,

I am stuck at treatment of Trading Losses. Trading Losses b/fwd £
165,000 from previous years.

My question is How could i set off Rental income of £1,500 against
b/fwd
losses and under what section so i could utilise and avoid Corporatin
tax.

Current year Trading profits £ 45,000.

Sch A income -Rent £ 1,500.

Corporation Tax summary:

Losses b/fwd £165,000
Utilised s393(1) (£45,000)

Remaining losses £ 120,000.

Kind Regards

.

Rehan Arain

Replies (1)

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Euan's picture
By Euan MacLennan
17th May 2007 14:47

Didn't you like the answer you got yesterday?
It seemed pretty good to me.

Trading Losses

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