Corporation Tax for a company which has made a loss - Help please?

Discussion in 'Accounting and Taxes' started by ANCFT2013, Jul 31, 2013.

  1. ANCFT2013

    ANCFT2013
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    Hi all. New to this site and just registered as I have a few questions and really could do with some help. I am currently in the process of putting together my company tax return, its a limited company. I will try and explain everything as best I can, and if anyone answers with any help and advice, please try and explain as best and simply as you can (Im only a young guy who tried setting up a business, I dont have a huge amount of business knowledge or funds etc).

    So its a limited company, 2 months ago I have applied to have the company struck off/dissolved, it is no longer trading. I am in the process of putting together my corporation tax return (which I am having enough trouble with and struggling to understand everything fully). The company has made a loss of about £5000, so how does this affect my tax return and the tax that I have to pay? Also I have read about terminal loss relief and capital losses etc. I am just getting confused.

    Can anyone try and explain what I have to do?

    Thanks in advance
     
  2. Fergal

    Fergal
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    Welcome to Business Advice Forum ANCFT2013, thanks for joining and posting your business questions.

    Are you based in the UK?
     

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