Trading losses HELP!!!

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GoldenRetreiver
GoldenRetreiver Registered Posts: 64 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
Hi does anyone know in a nutshell how far back Ltd companies can go and sole traders against trading losses - not when they are commencing or at cessation i.e. are they different from each other

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  • popcornlpw
    popcornlpw Registered Posts: 30 Regular contributor ⭐
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    you can go back one year.
  • GoldenRetreiver
    GoldenRetreiver Registered Posts: 64 Regular contributor ⭐
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    Thanks, is that for both ltd companies and sole traders?
  • popcornlpw
    popcornlpw Registered Posts: 30 Regular contributor ⭐
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    yes, you r right...its for both sole trader & Ltd
  • GoldenRetreiver
    GoldenRetreiver Registered Posts: 64 Regular contributor ⭐
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    many thanks, just be so pleased when they are all over - tax is definitely my worst subject
  • popcornlpw
    popcornlpw Registered Posts: 30 Regular contributor ⭐
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    good luck to you tomorrow

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