Field help:
Have you closed your business and had a loss on disposal?
Select "yes" if you have closed your business and have made a loss on disposal as a result.
What is this about?
If you have closed your business and have made a loss on the sale of business assets (e.g. machinery, land), this is referred to as a capital loss. This loss may be tax deductible under certain conditions.
What is a capital loss?
If you close your business and sell assets – such as machinery, vehicles or property – for less than their book value, this is referred to as a capital loss. The book value corresponds to the value of these goods in the accounts at the time of sale.
When should you provide information here?
- When you have closed your business.
- If a loss has been made on the sale of business assets.
Where do you get the information from?
You can find the amount of the capital loss in your profit and loss statement or the sales documents that were prepared when the business was closed.
If necessary, please contact a tax adviser in your area for advice.
