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Offset of brought forward trading losses on cessation

Offset of brought forward trading losses on...

I have a client with brought forward trading losses.  It also has profits from rental.  The company has now ceased trading and the properties have been sold, so it will be dormant.

Is there anyway I can offest the brought forward trading losses against the final year rental profits.  I have researched the HMRC corpration tax manual but can not find any guidance on this.


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By Exector
17th Aug 2012 15:41

No, but .....

Trading losses brought forward from previous periods are only available for offset against profits from the same trade in later periods. However, if the company also made trading losses actually in the final trading period, these would be capable of claim against any other chargeable CT profits ( eg rental) of that period. Equally any losses arising in the final 12 months of the trade are available for claim against all CT profts of the last 3 years up to cessn, later AP before an earlier, under the cessation losses provisions.

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