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Trading Loss Relief

This topic has 1 reply, 2 voices, and was last updated 2 months ago by JillyB.

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December 1, 2022 at 3:22 am #672993
cristen
Member
- Topics: 7
- Replies: 2
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.
December 1, 2022 at 3:35 pm #673046
JillyB
Moderator
- Topics: 0
- Replies: 187
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.
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