Multi trades and One Limited Company

noodles
noodles Registered Posts: 308 Dedicated contributor 🦉
edited June 18 in AAT member discussion
If a company has several trades and 1 Limited Company, any thoughts on what happens if the new trade has a loss and the existing trade has a profit.

Any views appreciated

Comments

  • Monsoon
    Monsoon Registered Posts: 4,020 Beyond epic contributor 🧙‍♂️
    I believe the usual rule of "loss offset against other income in same year, but carry forward only against profits of same trade" applies, but would have to look it up.
  • noodles
    noodles Registered Posts: 308 Dedicated contributor 🦉
    thank you, I have looked it up and your right, in the same year but only carry forward for same trade.

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