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BIM85000 | Trade losses: contents

From HM Revenue & Customs · Business Income Manual

Where a loss arises in a trade, profession or vocation relief can be claimed by setting off the loss against other income or future profits. Losses for 2013-14 to 2023-24 computed using cash basis cannot be claimed against other income. A loss made in the final twelve months of trading can also be set off against profits of earlier years. The types of relief are summarised in , and described in more detail in the pages following. Guidance on making a claim is given at onwards.

See the chapter on Partnerships - computation and assessment () for the rules relating to partnership losses.

For restrictions on relief for trade losses, see onwards.

This chapter contains the following:

Contents18 entries

  1. BIM85005Trade losses: when a loss is made
  2. BIM85010Trade losses: types of relief
  3. BIM85015Trade losses - types of relief: relief against general income
  4. BIM85022Types of relief - Extended loss relief - 2020-21 and 2021-22 losses
  5. BIM85025Trade losses - types of relief: relief against chargeable gains
  6. BIM85030Trade losses - types of relief: relief against chargeable gains - computation of relief
  7. BIM85035Trade losses - types of relief: relief against chargeable gains - gains subsequently relieved
  8. BIM85040Trade losses - types of relief: relief against chargeable gains - examples
  9. BIM85045Trade losses - types of relief: relief for losses made in early years of trade
  10. BIM85050Trade losses - types of relief: relief for losses made in early years of trade - breaks in trade
  11. BIM85055Trade losses - types of relief: terminal loss relief
  12. BIM85060Trade losses - types of relief: carry forward of losses
  13. BIM85065Trade losses - claims to relief
  14. BIM85070Trade losses - claims to relief: claims involving more than one year
  15. BIM85075Trade losses - claims to relief: time limits for claims
  16. BIM85080Trade losses - claims for relief: part claims and priority of claims
  17. BIM85085Trade losses - claims to relief: changes to claims
  18. BIM85090Trade losses - claims to relief: title to relief