Company Taxation Manual

CTM04580 - Corporation Tax: trading losses - relief against total profits: claims

CTA10/S37 (7)

This guidance applies to CTSA accounting periods ending on or after 1 July 1999.

Guidance about claims under CTSA is at CTM90600 onwards.

Loss relief claims can be made within two years of the accounting period in which the loss is incurred.  There is an exception where the claim falls within CTA10/S43 (1), but this is normally of concern only in the oil and gas activity field.

A loss relief claim made in a company tax return may be amended at any time up to 12 months from the statutory filing date or, if the claim is within the rules in TMA70/SCH1A within 12 months of making the claim.

For guidance on late claims see CTM04590.