I run a UK-based business that’s currently operating at a loss, but I have profitable ventures in other countries. Can I offset my UK losses against the profits from my overseas businesses to reduce my tax liability?
Answer by: abdullah-al-naim
3 months ago
Generally, UK business losses cannot be offset directly against foreign profits unless specific conditions, such as group relief within the same company group, apply. Tax treaties or double taxation agreements may offer some flexibility. Consult a tax professional for your specific situation.
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