20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March and June 2025 exams.
Get your discount code >>

Loss relief (opentuition note example 5, chapter 7)

This topic has 1 reply, 2 voices, and was last updated 11 years ago by Needs to pass.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
May 15, 2014 at 6:06 pm #168942
Hussain
Member
- Topics: 2
- Replies: 2
can any one help me to know if there is any overlap profits in these situations..
May 15, 2014 at 10:35 pm #168959
Needs to pass
Member
- Topics: 9
- Replies: 129
Any loss that incurrs in the first year BUT not the second year is simply overlaps profit/loss
If the first 2 years of a business are both loss making, then the overlap profit is relieved in the second year. As otherwise this would allow the loss to be double counted.
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.