CTM04105 | Corporation tax: relief for losses carried forward: losses incurred before 1 April 2017
From HM Revenue & Customs · Company Taxation Manual
,
The loss available for carry-forward is:
• the loss sustained,
less
• any part of that amount for which relief has been allowed against current year profits or carried back to earlier under ( onwards) or surrendered as group relief under ( onwards).
For accounting periods ending on or after 30 September 1993 a company does not have to make a claim to carry forward trade losses for set-off against future trading income of the same trade.
Relief is given against available trading income of subsequent accounting periods:
• in order, and
• without omission.
See about the finality of loss figures and about losses of a trading company going into partnership.
See onwards about the disallowance under of trading losses following a change in ownership of a company.