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Chapter CIRD68020

Document Cited authorities 1 Cited in Related
Vincent
Published date11 March 2016
Record NumberCIRD68020
CourtHM Revenue & Customs
IssuerHM Revenue & Customs
FA01/SCH22/PARA17 CTA09/S1158 Amount of loss carried forward

The company’s trading loss, or property business loss, carried forward and set off against profits from those sources in later accounting periods is reduced by the amount of the loss surrendered (ICTA88/S392A and ICTA88/S393).

Amount of the loss surrendered

The amount of the loss surrendered is:

  • where the maximum amount of land remediation tax credit is claimed (see CIRD68025), the whole of the ‘qualifying land remediation loss’ (see CIRD68005 for definition) for that accounting period, or
  • where the amount of land remediation tax credit claimed is less than the maximum amount that could be claimed, a corresponding proportion of the qualifying land remediation loss for that accounting period.

Example

A Ltd has a trading loss of £100,000 in an accounting period, of which £75,000 is a qualifying land remediation loss. It has no other...

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