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Company losses

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Company losses

  • This topic has 4 replies, 2 voices, and was last updated 3 weeks ago by JillyB.
Viewing 5 posts - 1 through 5 (of 5 total)
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  • April 28, 2023 at 5:50 am #683674
    krrish2005
    Participant
    • Topics: 43
    • Replies: 108
    • ☆☆

    I have doubt
    If a company has trading losses in two consecutive losses
    Then what will be order of set off for current year
    Like will we set off previous year carried forwrd trading loss first or current year trading loss??

    April 28, 2023 at 12:30 pm #683691
    krrish2005
    Participant
    • Topics: 43
    • Replies: 108
    • ☆☆

    Consecutive accounting periods**

    May 1, 2023 at 10:40 am #683790
    JillyB
    Moderator
    • Topics: 0
    • Replies: 347
    • ☆☆☆

    If a company makes a loss and cannot use it then it will be carried forward to the next chargeable accounting period (CAP)
    In that next CAP you would use the brought forward losses first before using the current year losses.

    May 2, 2023 at 7:23 am #683828
    krrish2005
    Participant
    • Topics: 43
    • Replies: 108
    • ☆☆

    Sir in bpp exam kit
    Brought forward is used after current year loss

    May 3, 2023 at 6:47 pm #683892
    JillyB
    Moderator
    • Topics: 0
    • Replies: 347
    • ☆☆☆

    I do not have access to BBP kit sorry

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