CTM92251 - Corporation Tax self-assessment (CTSA): the payment obligation: carry-back of trading losses or non-trading deficit - late payment interest - example 1

Accounting period 01/11/2007 to 31/10/2008	Accounting period 01/11/2009 to 31/10/2010
CT profit £40,000, CT liability £10,000	Trade loss £100,000
Paid 01/11/2009 (3 months late)\nPays interest of £600	CTA2010/S37 claim, as extended by FA2009/Sch 6 to carry back £60,000 to accounting period ended 31/10/2009 and £40,000 to accounting period ended 31/10/2008.

Liability after carry-back Nil.

The carry-back has no consequences for late payment interest. No additional amount of CT would have carried interest if the claim had not been made. No additional amount of CT would have carried interest if the claim had not been made.