trading losses in individuals and companies

Have you read the OT course notes and listened to the lectures? The income tax loss reliefs for the unincorporated trader are clearly stated in Chapter 7 and the corporate tax loss reliefs in Chapter 18 along with group relief in Chapter 22. The key to answering exam questions is your layout. Use a columnar format to record tax years for income tax loss reliefs leaving gaps after trading profits and total income into which the available loss reliefs may be inserted. Record Chargeable Accounting Periods in a corporate tax losses question leaving gaps after trading profits and total profits into which the loss reliefs may be inserted with group relief at the bottom after TTP