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HMRC internal manual

COTAX Manual

Claims / reliefs: loss and non-trading deficits carry-back: legislation: loss carry-back / repayment interest

The table below gives a brief explanation of what the legislation relevant to this subject contains.

Section Explanation
37(3)(b) CTA 2010 Allows a company to carry back a trade loss that cannot be utilised against profits arising in the AP in which the loss is incurred, for 12 months preceding the loss period.
826(7A) ICTA 1988 Rules for determining the amount of repayment interest allowable when a trade loss is carried back to an AP not falling wholly within the previous 12 months.