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Loss offset

27 April 2006
Issue: 4055 / Categories: Forum & Feedback

Our client is a close company in the building trade where all three directors, who are also one-third shareholders, are aged over 60.
Unrelieved trading losses of £90,000 arose in the year ended 30 June 2004 and, because of increasing losses, the company ceased trading on 30 November 2004. The losses for the accounts year ended 30 June 2005 were £150,000 and the total losses available are thus now £240,000.

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