This form of loss relief was introduced by F(No. 2)A 2017 and is available for losses that arose both before and after 1 April 2017. It applies where a company has carried-forward trading losses to a later AP (under s. 45, s. 45A or s. 45B) and the trade ceases in that later AP. Terminal loss relief can be claimed to carry back the brought-forward loss. This will be useful in cases where carrying forward a loss was considered to be the best option at the time, but later turns out not to be.

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