Tax Glossary
Welcome to the TWD Accountants Tax Glossary. To help you interpret the jargon that you can come across in dealing with your tax, our team of experts have written a brief explanation for hundreds of technical terms. Click on a letter to show entries.
Lettings
See rental income, furnished holiday lettings and furnished lettings
See rental income, furnished holiday lettings and furnished lettings
Loans
See Qualifying Loans
See Qualifying Loans
Losses - Carry Back
Business losses may be set against other income for the year. This is not always possible or desirable though. You may instead elect to have the loss set against income for previous years. This is known as a carry back of losses.
Business losses may be set against other income for the year. This is not always possible or desirable though. You may instead elect to have the loss set against income for previous years. This is known as a carry back of losses.
Losses - Carry Forward
Business losses may be set against other income for the year. This is not always possible or desirable though. You may instead elect to have the loss carried forward to set against income for subsequent years. This is known as a carry forward of losses.
Business losses may be set against other income for the year. This is not always possible or desirable though. You may instead elect to have the loss carried forward to set against income for subsequent years. This is known as a carry forward of losses.
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