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Current year property losses being utilised by current year trading profits

Article ID
ias-9609
Article Name
Current year property losses being utilised by current year trading profits
Created Date
14th March 2011
Product
IRIS Business Tax
Problem
Why are my current year Property losses (Schedule A) being utilised by current year Trading profits (Schedule D1)?
Resolution
Schedule A property losses must, first of all be set off against the company’s total profits for the accounting period. – The losses will be entered into box 26 on the full CT600 – In compliance with S392A (1) ICTA 1988

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