loss carry forward time limit?

loss carry forward time limit?

Didn't find your answer?

if the company has not ceased trading or changed ownership?

I can only find this on HMRCs website:

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.

second question: if the company goes dormant with a loss, can we apply this loss when it starts trading again? (and is there a time limit to that?) The directors are waiting for opportunities while also having their permanent jobs.

Many thanks

Luke 

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By geoffwolf
26th Aug 2010 11:09

Do not let the trade

go dormant if there are unrelieved losses.

All that needs to be proved is that the effort to get business continues.

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By blok
26th Aug 2010 13:53

.

There may be an argument from some, that when the directors do find a trade in the future it will not be the same trade.  Remember it is only availbale against same trade profits.

 

 

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