Last Updated on 04/11/2024 by Adrian Lamb
Making a LOSS in business (or on property)
No business likes to make a loss but unfortunately this can sometimes happen. Often new businesses make a loss when starting off (no shame there). Of course, you’ll have no tax to pay – but even better than that – you will probably be able to carry your losses forward and reduce your tax in future years. Best of all though, you might even be able to set your losses against other income (or carry the loss back) – and get a tax refund! That’s where we come in. We will always look at these types of scenarios. Also, if you have Rental Losses or Losses from selling properties, there are also good opportunities to save tax. Please contact us on 02891469054 or at info@oboyleaccounting.com. We are in the business of cutting your tax bill – as per our logo.
As always if you have any questions regarding tax advice, whether it’s income or capital gains tax, please send us an email info@oboyleaccounting.com or call us on 028 91469054
