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Where Taxpayers and Advisers Meet
losses after bankruptcy
My dad had a business with two partners which made losses of £100K and was then made bankrupt. He then went into the same business two months later on his own and made a decent profit in his first twelve months. Is he able to offset the losses made in the year he went bankrupt against teh profit of the new business.
The initial answer to your question would be to say NO!
However you state your father was made Bankrupt, can you tell me how long this Bankruptcy last, before I can difinitively say yes OR NO.!
Also was any official receiver involved?
I may be wrong but reading between the lines I do not think he was made bankrupt in the legal sense.
Rana
However you state your father was made Bankrupt, can you tell me how long this Bankruptcy last, before I can difinitively say yes OR NO.!
Also was any official receiver involved?
I may be wrong but reading between the lines I do not think he was made bankrupt in the legal sense.
Rana
