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Posted Wed, 09 Oct 2024 16:22:51 GMT by karen welch
My accountant has retired and i am now doing our company accounts. My question is how do i find out the figure for any unused trading losses from previous years ?
NB we had trading loss in 2022 we received a tax refund in 2023.
also where do i use these ( if there are losses c/f) on the CT return when 2023 is also a loss figure on profit
Thanks in advance
Posted Thu, 17 Oct 2024 12:02:32 GMT by HMRC Admin 13 Response
Hi karen welch
If you wish to find the figure for any unused trading losses for the previous year, this figure can be found in the company computations. 
This will be shown under the trading losses summary, which should breakdown the loss position for that tax year. 
If you do not have this information, you can contact HMRC through the options at: Capital Gains Tax and request a copy of the CT600, accounts and computations for one tax year only. 
If you wish to carry losses forward or you have brought forward losses and set off or claimed against profits this can inserted on the CT600 return in boxes 160 or 285. 
Guidance on completion of the company tax return can be found at: Corporation Tax for Company Tax Return (CT600 (2024) Version 3) 
Any further advice, you would need to speak with an accountant and or a financial advisor.
Thank you
Posted Fri, 18 Oct 2024 14:43:14 GMT by karen welch
Thank you so much for your answer.
I have accessed the CT600 & see that in 20/22 we made a loss and claimed back the maximum tax on that loss so we had no unused losses to carry forward
One more question please. The company made a loss in 22/23.
I have entered the loss in box 780 on CT600
Do I need to work out the corporation tax on that and insert it in the Repayments section (865) on CT600 or will HMRC automaticall y work out if we have any refund due from previously paid tax. NB To my calculation we have about 3K paid since incorporation that has not been refunded.
Thanks in advance
Posted Thu, 24 Oct 2024 13:47:48 GMT by HMRC Admin 13 Response
Hi
If you have made a loss in the account period ending 2023, then box 315 “Profits chargeable to Corporation Tax” on CT600 should be nil.  
You are correct in that the loss should be entered in box 780, whereas box 865, based on the information you have provided, should only be completed if there’s an overpayment in the account period, once the CT600 is submitted.  
Unless there are profits in the preceding 12 months, the losses arising in the period ending 2023 can only be carried forwards, to be set against future profits. 
Further guidance can be found at: Work out and claim relief from Corporation Tax trading losses 
Thank you
Posted Tue, 29 Oct 2024 17:45:48 GMT by karen welch
Thank you so much...that makes it clearer. My last question. ( i promise) 2022 had a loss which we received refund from previous years tax paid on 2021 profit made & the whole loss was used to offset, 2023 had a loss so i have to carry forward ? if so which box do i complete? 2024 has a loss too, Do I add that to the previous years loss or only put the figure of loss for the year relating to the return ? So. ...do hmrc have a tally of the losses or do i have to do some sort of report ? I have tried to understand the guide but i am confused Thanks in advance :)
Posted Fri, 01 Nov 2024 10:35:10 GMT by HMRC Admin 21 Response
Hi karen,
On the return in box 780 you would only record the losses that arose in that period. Unless you are utilising the losses in the return you do not put down losses from previous years. 
These will be in your competitions, there will be a loss account, that shows losses brought forward, losses arisen in the period, how/if they have been used then the amount carried forward. If you are using HMRC filing software the loss account is usually at the bottom of the computations. If you are using another software, you may need to speak to the provider as there is no standardised lay out. 
Thank you.

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