Corporation Tax: trading losses - relief against total profits: claims
This guidance applies to CTSA accounting periods ending on or after 1 July 1999.
Guidance about claims under CTSA is at CTM90600+.
Loss relief claims can be made within two years of the accounting period in which the loss is incurred. There is an exception where the claim falls within CTA10/S43 (1), but this is normally of concern only in the oil and gas activity field.
A loss relief claim made in a company tax return may be amended at any time up to 12 months from the statutory filing date or, if the claim is within the rules in TMA70/SCH1A within 12 months of making the claim.
For guidance on late claims see CTM04590.