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How to offset losses against PAYE as a sole trader
Web1 Apr 2024 · Carried forward trading losses set against total profits. Enter these in box 285 on your Company Tax Return. If your company has carried forward trading losses that it made on or after 1 April 2024, it can generally use them against its total profits. Trading losses from before 1 April 2024 cannot be used in this way. Web11 Apr 2024 · Treatment of loss – STCL can be set off against both STCG or LTCG. LTCL can be set off against LTCG only. If the loss is not set off entirely, It can be carried forward for a period of 8 year. Rules regarding Carry Forward & Set Off of Losses Losses from Regular Business (other than Speculative Business & Specified Business u/s 35AD) new harbrace guide
Don’t lose out! Making best use of trading losses - Tax …
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