A company makes a loss in Year 1. The director decides to stop operating that trade and the company commences a totally different trade in Year 2. The director simply changes the company name rather than incorporating a new company. The company therefore retains the same tax/CRO numbers.
The company has a few employees and makes profits in years 2 & 3 but pays no corporation tax due to 3 year start-up exemption. Is the company eligible for the exemption in year 4 due the the fact that it would be only be Year 3 for the particular trade?
The company has a few employees and makes profits in years 2 & 3 but pays no corporation tax due to 3 year start-up exemption. Is the company eligible for the exemption in year 4 due the the fact that it would be only be Year 3 for the particular trade?