LAM15120 - Excess expenses, losses and deficits:  Set-off of Long-term Business Fixed Capital and other non-trading loss on intangible fixed assets

The debits and credits from intangible fixed assets are aggregated. Any non-trading loss arising in Long Term Business Fixed Capital is treated as a “normal” non-trading loss on intangible fixed assets. See CIRD13540.

In summary, losses can be

• set against the shareholders’ share of total profits of the period;
• surrendered as group relief in the period;
• carried forward: losses incurred before 1 April 2017 are treated as non-trading debits arising in the later period and are aggregated with non-trading debits and credits of that period;
• carried forward: losses incurred on or after 1 April 2017 can be:
  • set against the shareholders share of total profits;
  • surrendered as group relief

Set-off of carried forward NT losses is subject to the loss restriction rules (LAM15200).