Carry forward of company losses against future same trade profits

Carry forward of company losses against future...

Didn't find your answer?

Company client has large losses accumulated over a few years.

They have changed their sales structure slightly in an attempt to turn things around. They are selling the same end product, but their production procedures are different now.

I am concerned that HMRC might not allow the losses brought forward because they might see it as a "different trade", so can anyone advise what things HMRC look at when considering brought forward losses and same trade situations? Note this isn't a change of ownership situation.

Thanks.

Replies (1)

Please login or register to join the discussion.

Portia profile image
By Portia Nina Levin
12th Jan 2015 14:09

Why?

Why are you concerned that HMRC might disallow the losses. You are essentially saying that the company is doing the same thing differently.

I think your question is a non-event that is waiting not to happen. See BIM80535 http://www.hmrc.gov.uk/manuals/bimmanual/BIM80535.htm

Thanks (0)