From 1 April 2017, new and altered claims procedures for carried-forward trade losses, NTLRDs, management expenses and UK property business losses mean that a company can choose whether and which of these losses to relieve in an accounting period.

Companies must comply with any rules on availability and extent of relief, including the CT loss restriction (CTM05000). However, within the limits of the relief available, they are generally able to choose, for example, the order in which to use the carried-forward losses affected (CTM04810), or whether to use these losses at all or to carry them forward to later periods.

Broadly, the legislation operates so that;

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