Relief for pre-trading expenses

Section 82 TCA 1997 provides that certain pre-trading expenses of a trade or profession are allowable in calculating the trading income of that trade or profession once it commenced.

Tax and Duty Manual Part 04-06-08 provides an overview of how the relief operates.

A new section has been added to the manual which explains that, in certain circumstances, where a company incurred pre-trading expenditure and another company commenced the trade, the company that commenced the trade may claim relief for that expenditure.

01 March 2019