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HMRC internal manual

Company Taxation Manual

HM Revenue & Customs
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Corporation Tax: trading losses: general: relief for losses carried forward: summary

CTA10/S45, CTA10/S137(7)

The loss available for carry-forward is:

  • the loss sustained,


  • any part of that amount for which relief has been allowed under CTA10/S37 (CTM04500+) or surrendered as group relief (CTM80100+).

For accounting periods ending on or after 30 September 1993 a company does not have to make a claim to carry forward trade losses for set-off against future trading income of the same trade.

Relief is given against available trading income of subsequent accounting periods:

  • in order, and
  • without omission.

See CTM04150 about the finality of loss figures and CTM04200 about losses of a trading company going into partnership.

See CTM06300 onwards about the disallowance under CTA10/S673 of trading losses following a change in ownership of a company.