Budget 2009: Loss measures announced in November improved

The extended loss carry back measures announced in November 2008 have been extended in the Budget.

The measure will now permit losses arising in the two years from 24 November 2008 to 23 November 2010 to be carried back against the profits of the preceding three years. For income tax this will apply to losses in the tax years 2008/09 and 2009/10.

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