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How to utilise Current and Brought forward losses on a Corporation Tax Return.

Article ID: 2358
Last updated: 13 Sep, 2022

This article will go through utilising current and brought forward losses on a CT600 tax return. Please select one of the following for instructions on how to do this:

Offset current year losses

Brought forward losses

Offset current year losses

To offset current year losses against profits in the current period, enter the values in the following boxes:

Simple Step Mode: CT600 Core > Losses, Management expenses, NTLRDs and NTLIFAs > Trading Losses > Losses arising in the period > Set against other profits or chargeable gains of this period.

HMRC Forms Mode: CT600 Core > Computations > Losses, Management expenses, NTLRDs and NTLIFAs > Trading Losses > Losses arising in the period > Set against other profits or chargeable gains of this period.

Brought forward losses

To offset losses that have been brought forward from a previous period, enter the values in the following boxes:

Simple Step Mode: CT600 Core > Losses, Management expenses, NTLRDs and NTLIFAs > Trading Losses > Losses carried forward from the previous period > Utilised against Trade/Total profits (Please note: This is dependent on whether you have a figure populated in Pre 1st April 2017 where you can only utilise against trade profits OR Post 1st April 2017 where you can utilise against total profits (trading and non-trading).

HMRC Forms Mode: CT600 Core > Computations > Losses, Management expenses, NTLRDs and NTLIFAs > Trading Losses > Losses carried forward from the previous period > Utilised against Trade/Total profits

(Please note: This is dependent on whether you have a figure populated in Pre 1st April 2017 where you can only utilise against trade profits OR Post 1st April 2017 where you can utilise against total profits (trading and non-trading).

If you are wanting to carry back losses to a previous period, please see Knowledge Base article: CT600 losses and how to carry them back

Article ID: 2358
Last updated: 13 Sep, 2022
Revision: 14
Views: 13310
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item CT600 losses and how to carry them back

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folder Tax Return Production -> CT600 Corporation Tax Return