T trg Registered User Messages 90 19 Oct 2017 #1 Hi folks, Just wondering re the above in the case where a partners share of profit is say 10k, & his share of allowances are 14k. Can the excess 4k be used against other income in same tax year? Cheers
Hi folks, Just wondering re the above in the case where a partners share of profit is say 10k, & his share of allowances are 14k. Can the excess 4k be used against other income in same tax year? Cheers
D dublin67 Registered User Messages 386 20 Oct 2017 #2 I would give a qualified yes. I'd need to ensure that the loss restriction provisions (full time etc) brought in a few years back don't hamper you. If full time trade etc I don't see an issue.
I would give a qualified yes. I'd need to ensure that the loss restriction provisions (full time etc) brought in a few years back don't hamper you. If full time trade etc I don't see an issue.