Maximising loss relief claims

A business can be fundamentally sound yet struggle with cash flow – especially in the vulnerable early years of trading.

This was the scenario for one client – a new hedge fund manager. Having formed a Limited Liability Partnership (LLP) just before the beginning of the recession in 2008, their first year resulted in losses. This caused the partners some natural concern.

Having been called upon for advice, Throgmorton was able to provide detailed guidance – particularly with regards to maximising loss relief claims for the early years of a trade against the partners’ other income in earlier years.

The outcome for the LLP members was early repayments of income tax being made – thus substantially easing their cash flow issues.

Throgmorton: “The first year of trading, or at start up, is one of the best times to talk to us. We can often help to anticipate issues, before they become a big problem.”

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