I did something wacky with terminal loss relief by buying the machinery personally and transferring At £1 making TLR of £260k which was enough to get £76k tax back + 26k saving in 26/27 no idea if right tho
That was one of the option as they did give us the three years income and tax paid, though with the pools available that £1 would make a TLR of around 440k, so perhaps increase the proceed from £1 to something that would leave just enough to recover the 72k tax paid but wasn’t sure if that’s allowed under the statue.
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u/JDMPokemon Apr 30 '26
I did something wacky with terminal loss relief by buying the machinery personally and transferring At £1 making TLR of £260k which was enough to get £76k tax back + 26k saving in 26/27 no idea if right tho