Sole Trade Loss Rules

Discussion in 'Accounts & Finance' started by kirstie27488, Jan 23, 2019.

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  1. kirstie27488

    kirstie27488 UKBF Newcomer Free Member

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    Hi There,

    Can someone tell me if i can offset current year losses from a new trade against profits in the previous year of an existing trade?

    For example, a new trade this year makes £9000 loss and last years profits of existing trade is £13000.

    Can the loss be offset in part so that or does it have to be in full?

    Many thanks
     
    Posted: Jan 23, 2019 By: kirstie27488 Member since: Apr 6, 2010
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