Losses and Tax relief

Jun 28, 2019 | Business, HMRC, Tax

Losses and Tax relief. Remember that you can offset trade losses against any other income, including rentals, in the same tax year to reduce your tax liability. You can also carry forward any unused losses to offset future profits in the same trade. However, you cannot offset rental losses against trade profits, you can only carry forward these rental losses against future rental profits.

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