Carry Back Profit from Previous Trading Year - Ltd Company

T

TTI

Registered User
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Hi,

How difficult is it to claim back the prior years profit taxes paid by a Ltd company?
Are there any restrictions?
Can you also claim back the 'closed company' charge?


Trading loss
Carry back
A trading loss can be offset against profits of any kind in the current accounting period. If not so used, a trading loss can be offset against profits of a preceding accounting period of equal length. A claim must be made within two years of the end of the accounting period in which the loss occurs (s 396(9)).
Click to expand...
 
There are no restrictions on the amount that can be claimed provided the CT1s were filed on time. You claim it on the CT1 for the second year. No deduction for close company surcharge.
 
Can't find it in the ROS' CT1 2014. Was that option removed this year or I'm just getting blind?
 
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