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Indicator - FL Memo Ltd
Tel: (01233) 653500. Fax: (01233) 647100
customer.services@indicator-flm.co.uk
www.indicator-flm.co.uk
Calgarth House
39-41 Bank Street
Ashford, Kent TN23 1DQ
VAT GB 726 598 394
Registered in England
Company Registration No. 3599719
Where a business makes a loss from its trading activities, the business owners may be entitled to claim tax relief. This is given by allowing the individual to reduce the amount of income on which they are otherwise required to pay income tax by the amount of the loss. Rules prevent and limit the tax relief in some circumstances.
The Flow Chart - Income Tax Trading Loss Relief will help you decide if and how you can claim tax relief for a trading loss made by your business.
Definitions for the flow chart:
You may find our Share Loss Relief Claim and Unincorporated Business Trading Loss Relief Claim useful when considering a claim for trading loss relief: