New queries, issue 4286

Sub loss

The director of a one-man limited company has no contract of employment.

There is no need to take minimum salary to preserve state pension entitlement etc. so he takes all his ‘remuneration’ as dividends. He has other personal interest income and an occupational pension.

There are some small travelling expenses reported on form P11D but these are covered by a claim on his tax return giving a nil benefit.

However he does pay allowable professional subscriptions and with no employment income with which to set this against it therefore creates a ‘loss’.

Can readers advise on how this loss may be relieved against other income of the year?

Query 17 732 – Cricket

Down the pub

Alfie owns a public house. Originally the building was acquired by Alfie Billy and Charlie in partnership in April 2010 for £500 000 but the...