How do I offset losses on a CT600 Corporation Tax return?

Whether the losses are for the current year or brought forward, you need to declare all of the information on the same page, known as the Trading Losses record. To do this you can use SimpleStep or HMRC Forms mode.

SimpleStep mode

Go to: CT600 Core > Losse, Management expenses, NTLRDs and NTLIFAs > Trading losses 

HMRC Forms mode

Go to: CT600 > Computations > Losses, Management expenses, NTLRDs and NTLIFAs > Trading losses 

Current year losses

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

• Trade loss this year (Box 122 CT 2008 / Box 780 CT 2015).
• New losses this year available for relief against other income.
• New losses set off against other profits or chargeable gains of this year.

Losses brought forward

To offset losses brought forward, enter values in:

• Losses brought forward (total losses brought forward).
• Less: Relieved against trade profits of this year (total amount you wish to offset).

Future year losses

To offset losses for a future year, follow these below:

In the current year return

1. Go to the trading losses record.
2. Enter data for:
   • trade loss this year (Box 122 CT 2008/ Box 780 CT 2015)
   • less: new losses carried back against profits of a previous year.
3. Go to Finalising the return (SimpleStep mode) or CT600 Page 1 (HMRC Forms mode).
4. Tick the box for A repayment is due for an earlier period.

In the previous year return

1. Go to the trading losses record.
2. Enter data for trading losses of a later accounting period utilised.
3. An automatic row should appear for Trading losses of a later accounting period utilised with the same figure entered.