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Tax Losses 2nd Edition

Tax Losses 2nd Edition

Author: Katherine Ford
Publisher: Claritax Books
ISBN: 9781912386079

Previous Edition ISBN: 9781908545893
Published In: November 2020
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

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Many businesses are incurring losses in these exceptionally difficult times. This book clearly explains how to make use of the various reliefs to ensure that all available tax benefits are given for the losses. Covers losses incurred by companies, partnerships and individuals, including property losses and capital losses as well as trading losses.

The new edition has more than doubled in size, with greatly expanded coverage of corporate tax losses in particular.

A clearly written, practical guide to the options for relieving tax losses, written by Katherine Ford BCom FCCA CTA. The second edition of the book covers income tax, CGT and CT losses, all in depth and fully illustrated with plenty of worked examples.

New material for this edition includes:

Substantial updates covering the relaxation of the reliefs for corporate losses
Separate chapters for the different types of corporate losses
Detailed coverage and examples for the corporate loss restriction
Group relief for carried-forward losses
Losses arising under NRCGT, including the extension to all UK land disposals

All examples, commentary and references have been reviewed and updated as appropriate. The new edition also explains more recent case law developments (e.g. Beacon re whether a trade is commercial), has additional HMRC guidance (e.g. re gaps in trading), and has expanded coverage where appropriate (e.g. more on the interaction with farm averaging claims).

Individuals, personal representatives and trustees

Trading losses

Pre-trading and post-cessation expenses

Employment income

Property losses

Capital losses

Miscellaneous transactions

Partnerships

Loss restrictions

Companies

Trading losses

Intangible fixed assets