Was going to advise but then you revealed your a keshie so........ask mein bollox.
me a kshie ?
Believe it or not it's not all about you, you'll notice the thread is called "advice please" and was started by a keshie.
Need more advice.....
Not being an expert bean counter, I'm trying to get into the bones of this measure included in the stimulus package....
Income tax loss relief for self-employed
This is a new once-off income tax relief measure which will benefit self-employed individuals who were profitable in 2019 but, as a result of the Covid-19 pandemic, are loss making in 2020.
The measure will give individuals carrying on a trade or profession as sole traders or members of partnerships a cash-flow boost from the early utilisation of up to €25,000 worth of 2020 losses (and certain unused capital allowances) off-set against 2019 profits.
Wondering how they calculate your 2020 losses to minimise your 2019 tax liability when you haven't done returns for this year yet? Some whizz kid out there knows I'm sure.
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