I started my ltd company in 2005, I have yet to make a profit and am still in debt. 10k in 2005, then 30k in 2007 and as I haven't been able to work on the company 2008 to 2009, I am still in debt. Am I able to roll over the debt from 2007-2008, to 2008-2009? I heard somewhere it is possible to rollover for 1 year. If I spend say £10 on stock for 2008-2009 accounting period, can I roll over £30010? I had an accountant before who could answer this for me, but now I'm trying to save money, so I submitted abbreviated accts last time round but not sure if I can roll the full debt for this next accounting period. Thanks so much for any help!
Small business owner - can I rollover debt from one year to the next?
- Thread starter Sessa
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