Tax

Question 1

What is carry forward relief on incorporation of a business?

Answer 1

Carry-forward relief is preserved where a business carried on by an individual, or partnership, is transferred to a company in exchange for shares which the company allots to the individual

Question 2

What is carry forward of losses?

Answer 2

You can apply (carry forward) past investment losses from a previous tax year to reduce your taxable profits when you eventually make a gain