0

Whilst filing my UK company tax return for the financial year covering 22/23 in the section 'Trading losses', under 'Bring back a loss from a later period' is states the following:

You can only bring back a loss if both the following apply:

  • the loss happened between 1 Feb 2023 and 31 Jan 2024
  • you've already filed the tax return for the period when the loss happened

I'm not an accountant so realise i must be missing something, but am confused as to how both these requirements could ever be met.

Could someone please explain how it's possible to 'bring back' a loss from a subsequent year to reduce your tax liability for the previous year?

Improve this question
2
  • Interesting question, but this may not be the right place to ask it. This is the Personal Finance forum, and your question seems to be about a Corporate Taxation issue.
    – Greg Schmidt
    Commented Oct 27, 2023 at 2:00
  • Thanks Greg, i had wondered that myself as it's listed as 'personal finance and money'. But there seems to be a lot of existing business related tax/accountancy questions on here and i couldn't find a more appropriate stack exchange to ask on.
    – james
    Commented Oct 27, 2023 at 10:48

0

Reset to default

You must log in to answer this question.