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Thank you very much for your valuable lectures.
in corporation tax lectures, it was stated, that if we chose to carry the loses forward, under the new rules we can apply them against the total taxable profit, not just trading profit. Are there any other limitations we should be aware in exam? Specifically the £5m allowance and 50% rule?
Many thanks!
Happily for us the TX-UK syllabus does not include the deductions allowance nor calculation of the relevant maximum to which you refer above.
Do note however that the c/f is against Total Profits not TTP – but unlike the current period and carry back claims partial claims may be made so that qualifying charitable donations are not wasted.
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