terminal-loss relief

terminal-loss relief Relief for a loss made by a company, partnership, or sole trader during the last 12 months of trading. The business or profession must be permanently discontinued. For partnerships and sole traders, the loss of the last 12 months can be set against the profits of the three years prior to the final tax year, taking the most recent year first. For companies, the trading loss arising in the accounting period in which the trade ceases may be carried back and offset against the profits of the three years ending immediately before the commencement of the final period of trading. Seeloss reliefs.

• standard direct materials cost
• standard direct materials price
• standard fixed overhead cost
• standard hour
• Standard Industrial Classification
• standardization strategy
• standardized marketing mix
• standard marginal costing
• standard materials usage
• standard mix
• standard operating profit
• standard overhead cost
• standard performance
• standard production cost
• standard purchase price
• standard rate
• standard selling price
• standard time
• standard variable overhead cost
• standby agreement
• standby credit
• standing order
• standstill agreement
• start-up
• start-up costs