BIM85075 | Trade losses - claims to relief: time limits for claims
From HM Revenue & Customs · Business Income Manual
The time limits applicable to loss relief provisions are as follows:
| Loss relief provision | Normal time limit | Statutory references |
|---|---|---|
| () | Within 12 months of 31 January next following the year in which the loss is made | |
| Within 12 months of 31 January next following the year in which the loss is made | ||
| Within 4 years from the end of the year of assessment to which the claim relates[see note]. | () | |
| Within 4 years from the end of the year of assessment to which the claim relates [see note]. | ||
| Within 4 Years from the end of the year of assessment to which the claim relates. [see note] |
These statutory time limits are extended in certain circumstances, see onwards.
Note
The 4 year time limit took effect from 1 April 2010. Previously the time limit was 5 years of 31 January next following the year of assessment in which the loss is made.
Where the person making the claim was not given a notice under
(personal return)
(trustee return)
(Partnership return)
within 1 year of the end of the year of assessment to which it related, the 5 year 10 month time limit was retained until 1 April 2012. On that date the time limit changed to 4 years after the end of the year of assessment to which the claim relates.