Buying A Loss Making Company To Minimise Tax - Contractor UK Bulletin Board

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joey122 started a topic Buying A Loss Making Company To Minimise Tax

20 July 2009, 20:54
Buying A Loss Making Company To Minimise Tax

So i was speaking to a contractor at work who indicated that they were considering buying a company that made a loss last year just so they can offset their tax against this companies loss.

This does sound rather interesting - Does anyone know if this is in fact legal?

I would think they would have closed this loophole.
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