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Trade - Section 291A

  • 09-06-2020 10:10am
    #1
    JansheerKahn
    Registered Users, Registered Users 2 Posts: 44 ✭


    Hope everyone safe and well.

    Query on Section 291A;

    (1) Is S 291A treated as a separate trade purely for the purposes of calculating allowable amount of W & T or are such activities a fully separate trade if a company wishes to claim the allowances?

    (2) If fully separate trade am I correct in stating that an adjusted loss (pre capital allowances on intangibles) on such a trade CANNOT be offset against profits on other trades in the current accounting period BUT losses on non S 291A trades can be used against profits of a S 291A trade

    (3) Is S291A an optional provision - ie - a company can opt not to apply it and not claim allowances on intangible assets

    Cheers for any advice in advance


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