Making best use of a loss: companies
por Paul Davies
1. Trading losses
1.1. Sideways relief
1.2. Carry-back relief
1.3. Group relief surrender
1.4. Carry-forward relief
1.4.1. Pre-1 April 2017 losses
1.4.2. Post-1 April 2017 losses
1.5. Reliefs to be deducted before relief for trading losses
1.5.1. Loan relationship non-trading deficit
1.6. Reliefs to be deducted after relief for trading losses
1.6.1. Charitable donations relief
1.6.2. Trading losses carried back from later period
1.7. Terminal loss relief
1.8. Various specific restrictions
2. UK property business losses
2.1. Sideways relief against total profits
2.2. Carry-forward relief against total profits
2.2.1. Automatic for pre-1 April 2017 losses
2.2.2. Elective relief for post-1 April 2017 losses
2.3. Special rules for companies with investment business ceasing a UK property business
3. UK furnished holiday lettings business losses
3.1. Treated as trading loss
4. Overseas property business losses
4.1. Carry-forward relief
5. Loan relationship non-trading deficit
5.1. Sideways relief
5.2. Carry-back relief
5.3. Group relief surrender
5.4. Carry-forward relief
5.5. Group relief for carried forward losses
5.5.1. Post 1-April 2017 losses only