Hi
I will really appreciate if someone help me.
How can we carry back current year company losses.
A very small company made profit in last year from 01.04.2012 to 31.03.2013 and tax payable say was around £5000 but company only paid £1000
Now during 2013/14 its net loss is around £20,000 and it has ceased trading since 31/03/2014
How can we carry back this loss? and how can we show this loss to be carried back against the profits of last year in this year' CT return.
Thanks in advance.
Regards
Replies (6)
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By completing the relevant section on the return
As soon as you look at the return I am sure the loss section will leap out at you.
You must also remember to tick the box on the first page to the effect that a repayment is due from an earlier period.
It's not about ticking a column for loss relief. It's about showing the amount of the loss you want to carry back in the box provided for that purpose. I am not sure why you are having difficulty finding that box. Why don't you just go through the form until you find it?
No you don't need to re-do last year's return. As long as you have ticked the box to say that a repayment is due from a previous year HMRC will re-do the figures for you.
true but
No you don't need to re-do last year's return. As long as you have ticked the box to say that a repayment is due from a previous year HMRC will re-do the figures for you.
I used to do that but now I submit an amended CT600 showing the the loss b/back.