Tax Losses - How to Make the Most of Them

This session mainly focuses on a selected range of tax reliefs available for losses incurred by individuals when carrying out trading and investment activities. However, an overview of the changes to company loss rules to be operational from 1 April 2017 included in the Autumn Finance Bill 2017 are also included. The scope of this aspect does not include groups.

The session provides explanations of how loss reliefs are used and the factors which may affect their optimum use.

Specifically the following will be covered:

• Factors to consider when using loss reliefs for individuals and companies
• Trading loss reliefs for income tax
• Anti- avoidance affecting trading loss relief for individuals
• Utilisation of trading losses for Class 4 NIC purposes
• Using property losses individuals and companies
• Capital losses on unquoted shares including EIS investments
• Losses on loans to traders
• Utilisation of capital losses for individuals
• The impact of cap on reliefs on loss utilisation
• A refresher on company loss rules and an introduction to the carry forward changes in Finance Bill 2017