We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Offsetting losses between similar businesses
bill_face
Posts: 13 Forumite
in Cutting tax
Hello.
I am a partner in two farming businesses. This year one has made a profit one and the other has broken even. The latter one has historical losses. Can I use these losses to offset against the profits of the other?
I am a partner in two farming businesses. This year one has made a profit one and the other has broken even. The latter one has historical losses. Can I use these losses to offset against the profits of the other?
0
Comments
-
Only current year losses can be set sideways against current year profits of a different business.
Your historical losses can only be set against later profits of the same business.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.6K Work, Benefits & Business
- 600K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards