David Smith
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Capital losses in a company

Capital losses in a company

If a company has capital losses brought forward from a previous year, do the losses have to be reported to HMRC each year? Or is it the case that they have been recorded in the year they arose and you don't need to do anything with them again, until you want to set them against gains.

The reason I'm asking is that I'd like to use HMRC's own filing software but it can't deal with gains or losses.



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27th Dec 2012 07:00

commercial software?

Strange, there was a box for it in the Losses and deficits section of the paper returns.

1.  Get commercial CTax filing software.  If you are good with Excel, I’d recommend HMRC-approved very easy to use s/w from www.sa2000.co.uk, pay-as-you-go version costing only £24.99.

2.  I have seen on this site suggestions that client should be asked to sign (incorrect) return without the c/f, plus you should send a letter to HMRC correcting the omission.

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