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Restriction in losses (corporation)

Forums › ACCA Forums › ACCA ATX Advanced Taxation Forums › Restriction in losses (corporation)

  • This topic has 3 replies, 2 voices, and was last updated 10 years ago by Anonymous.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • April 16, 2015 at 6:03 pm #241545
    rockerz
    Member
    • Topics: 72
    • Replies: 82
    • ☆☆

    Hi the restriction rule for a change in nature and ownership is for both current n bf losses? or only for bf losses. Thanks plz reply asap

    May 6, 2015 at 12:53 pm #244327
    Anonymous
    Inactive
    • Topics: 0
    • Replies: 52
    • ☆☆

    hey

    the bfwd and pre-entry losses can never be group relieved. The current yr losses can be group relieved and also it can be used for itself, however depending on the type of loss available, the priority will change for loss relief.

    The change of ownership and nature change rule applies for pre-entry losses. They will be wasted if that applies.

    May 6, 2015 at 1:31 pm #244330
    rockerz
    Member
    • Topics: 72
    • Replies: 82
    • ☆☆

    So u meant to say that chang of ownershp rules is for b/f losses not for currnt year thts it?

    May 6, 2015 at 2:17 pm #244342
    Anonymous
    Inactive
    • Topics: 0
    • Replies: 52
    • ☆☆

    its bfwd losses only.

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