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Inside IR35 and keeping company going - carrying forward losses?

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    #11
    Originally posted by Cirrus View Post
    They couldn't possibly be 'legit' if they are connected with a contract through an umbrella. You can only count expenses related to the relevant business not to other businesses that happen to be connected to you.

    If your company is idle for a year or so I can't see why you can't make a loss eg on accounting, office expenses etc but the Revenue don't like non-trading entities so you couldn't carry on doing it for too long.

    True, but unlikely one would be using an umbrella and receiving payment from that into a Ltd!

    Trading (or not) at a loss is ok, it's when trading insolvent that they start getting interested. So can run at a loss if got enough cash in the company account to avoid trading insolvent.
    Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.

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      #12
      Originally posted by ASB View Post
      It is possible to carry back losses and potentially get a refund of previously paid ct.

      https://www.gov.uk/guidance/corporat...laiming-a-loss
      Ah thats pretty good. Of course, by the time he loss is accounted for the year, the CT will have already been paid for the previous year. Good to know you can get an actual refund.
      Rhyddid i lofnod psychocandy!!!!

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