How would you disclose bf trade losses from prior year in current years CT600?
Note current year (year 2) has also incurred a net loss - therefore no corporation tax to be paid however how would you account for the losses incurred in year 1 and year 2?
The CT600 doesn't have a box for brought forward or cumulative trading losses (it just shows tax adjusted losses incurred in the period) but the cumulative loss position should be shown in your tax computations.
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Pearce & Co - Chartered Accountant and Chartered Tax Adviser
