Katherine Ford BCom FCCA CTA (Fellow) currently works for ICAEW. Previously, she was the manager of the direct tax telephone advice team at Markel Tax.
Tax Losses 2nd Edition
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.
It covers losses incurred by companies, partnerships and individuals, including property losses and capital losses as well as trading losses. The text covers income tax, CGT and CT losses, all in depth and fully illustrated with plenty of worked examples.
This edition has more than doubled in size, with greatly expanded coverage of corporate tax losses in particular. The second 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).
“A comprehensive but manageable guide to tax losses.” – TAXline review of first edition
Contents (in brief)
Individuals, personal representatives and trustees
Pre-trading and post-cessation expenses
Intangible fixed assets
New for this edition
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