Like for like and Loss relief: Difference between pages

Revision as of 13:19, 10 March 2022

Tax.

Tax benefits to a taxpayer arising from having made losses.

For example, an entitlement to offset tax losses against other taxable profits, to reduce the amount of tax payable.

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-(LFL).
+''Tax''.
-'Like for like' is a basis of comparison - usually of revenues - which seeks to exclude the effects of growth by acquisition or of any disposals.
+Tax benefits to a taxpayer arising from having made losses.
-The like for like comparison only takes account of activities which were in existence during both of the periods being compared.
+For example, an entitlement to offset tax losses against other taxable profits, to reduce the amount of tax payable.
-Like for like comparisons should be treated with care, as the selection and presentation of relevant ongoing activities for comparison may involve a degree subjectivity on the part of the management whose performance is being reported on.
+== See also ==
+* [[Tax relief]]
-Management may - consciously or unconsciously - be influenced to present figures in a way that reflect well on its own performance.
+* [[Terminal loss relief]]
-== See also ==
+[[Category:Accounting,_tax_and_regulation]]
-* [[Profit]]
-* [[Revenue]]
-* [[Sales]]
-* [[Turnover]]
-* [[Underlying]]