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  • Carry Forward Trading Loss

    Hi, I have read many posts here but am not sure of the answer, could you help me with the information below, please? The company has traded for over 6 years now. For FY 2019, the company had a trading profit of £35 For FY 2020, the company had a trading loss of £20,000 For FY 2021, the company had a trading loss again of £7,000, the loss was accumulated by a loss from the previous year, and the balance loss carried forward of £27,000 For FY 2022, the company had a trading profit of £5,000, the profit was offset by losses from the previous year, and the balance loss carried forward of £22,000 For FY 2023, the company had a trading profit of £9,000, the profit was offset by the loss brought forward, and the balance loss carried forward of £13,000 For FY 2024, the company had a trading loss of £5,000 What about FY 2024 the current year, Can I accumulate a loss brought forward £13,000 plus a loss for the year of £5,000 to carry forward of £18,000? Also, please check if I have done everything correctly in the previous year. Do they have a limit for how many years the company can carry forward trading loss? Thank you.