CT losses

Question 1

how can losses be relieved?

Answer 1

• current year then carry back
• carry forward
• current year cfwd

Question 2

how can losses be used during a major change in ownership?

Answer 2

• losses prior to change cannot be carried forward
• losses after change cannot be carried back

Question 3

what can you do with Non trade loan deficit?

Answer 3

• can be carried back against Interest income in prior 12 months
• carried back 36 month if trade ceases
• carried forward