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Company trading losses b/f

claiming relief against bank interest received

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A problem with Trading Losses section of the HMRC Corporation Tax filing facility:

A company has pre-1.4.2017 trading losses brought forward (boxes CP281 and CP281bA).  A part is set off against current trading profits (box CP283a).  The system then puts the unused losses into box CP288a “pre-1.4.2017 losses c/f” and indicates that non-trading income can be offset only by post-1.4.2017 losses.   How do I claim loss relief against a small amount of bank interest classified as non-trading income, or should it be somehow classified as trading income?

Many thanks for your help!

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By Tax Dragon
24th May 2019 10:26

What's the problem?

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By Duggimon
24th May 2019 11:01

I don't fully understand the question, but if what you are asking is how to set off current year bank interest against b/fwd pre 1/4/17 trading losses, then the answer is that you don't.

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By jcace
24th May 2019 11:30

As your system is telling you, non-trading income (such as bank interest) can be offset only by post-1.4.2017 losses. So you will probably end up having to pay tax on the small amount of bank interest.

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