Terminal losses - Corporation Tax
Hello, I am feeling a little thick today. No changes there. Can someone confirm that my thinking on Terminal Losses is correct please. Here's the scenario:
A company made a profit of £50000 in its usual accounting year to 05/04/09.
It then made a profit of £20000 in the year to 05/04/10.
It then made a loss of £45000 during the year to 05/04/11; £20000 of which was carried back to 05/04/10, with the remaining £25000 carried forward to the following year to 05/04/12.
The company never made it to the end of 05/04/12 and ceased to trade on 31/10/11, making a profit of £3000 in the final period. This profit was reduced to nil on bringing forward the £25000. So, a £22000 loss remains. Terminal losses can of course be carried back 3-years. But, does this particular £22000 loss qualify as a 'terminal' loss, considering it's in fact brought forward from the previous to 05/04/11? Yes or no?