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Like loss relief for a company, does trading loss relief also have a limit of 12 months for carry back relief?
Is it current then carry back 12 months and then carry forward?
This is excluding the 4 years of trading rule for when a business has started trading and 3 years carry back for cessation.
Ltd Co losses are more restrictive than for sole traders.
You must do a current year claim before you carry back 12 months with any balance c/fwd.
There is no special opening years loss relief.