A liquidation dividend is a payment distributed to shareholders during the process of winding up a business, after settling obligations with its debtors and creditors. This distribution represents the remaining assets proportionate to shareholders' equity.
A tax year that is less than 12 months, usually applicable to start-up companies or businesses that are terminating.
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 to qualify. 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.
