I'm closing my Ltd next month - one man band contractor, no accountant, trading 10 years.
Current year - income minimal, salary paid out of retained profits so a loss for the year of about £10K
Previous 3 years paid small salary and then pension contributions so Corporation tax was only a few hundred PA.
Can I offset my losses for the current year against the Corporation tax already paid with this Terminal Loss Relief thingy?
Terminal Linky
Nice if I can, no biggy if not.
If I can, given that the company will be closed, will they refund it to me personally?
Ta for any advice!
Current year - income minimal, salary paid out of retained profits so a loss for the year of about £10K
Previous 3 years paid small salary and then pension contributions so Corporation tax was only a few hundred PA.
Can I offset my losses for the current year against the Corporation tax already paid with this Terminal Loss Relief thingy?
Terminal Linky
Nice if I can, no biggy if not.
If I can, given that the company will be closed, will they refund it to me personally?
Ta for any advice!
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