Q. I have recently set up my own business after having been employed for many years. Although I am hopeful that I will eventually make a profit, I anticipate that I am likely to make a small loss in each of my first three years of trading. What is the best way for me to utilise these losses for tax purposes?
A. If a business is being carried on on a commercial basis with a view to making a profit, it is generally possible to claim relief for a trading…
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