Corporation Tax Act 2010 section 45C

Re-application of section 45A if loss remains after previous application

Section 45C allows a trade loss that was carried forward against total profits under section 45A, but was not fully used in that period, to be carried forward again to the next accounting period and set against total profits of that next period.

• Where a trade loss carried forward under section 45A is not fully relieved against total profits or surrendered as group relief for carried-forward losses, the unused portion can be carried forward again to the next accounting period (the "further period")
• The carry-forward is only available if the trade did not become small or negligible in the period from which the loss is being carried forward, and the trade continues to be carried on commercially in the further period
• The further period must not be an excluded accounting period of a general insurance company
• If the conditions for carry-forward against total profits are not met (for example, because the trade became small or negligible, or was not carried on commercially), relief may still be available under section 45D, which deals with carry-forward against profits of the same trade only

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