Corporation Tax Act 2010 section 730F

Meaning of "relevant carried-forward loss"

Section 730F defines what counts as a "relevant carried-forward loss" for the purposes of the rules in this Part, identifying five specific categories of loss or expense that a company may carry forward from earlier accounting periods.

• A relevant carried-forward loss includes trading losses, UK property business losses, non-trading deficits on loan relationships, non-trading losses on intangible fixed assets, and management expenses, all brought forward from previous accounting periods
• Carried-forward trading losses are those arising from a company's trade and brought forward under the trade loss carry-forward rules (sections 45, 45A or 45B), while UK property business losses are brought forward under section 62(5)
• Non-trading deficits from loan relationships (brought forward under sections 457, 463G or 463H of CTA 2009) and non-trading losses on intangible fixed assets (brought forward under section 753 of CTA 2009) are also included
• Carried-forward management expenses cover amounts brought forward under section 1223 of CTA 2009 as deductible expenses of management, together with certain UK property business losses of investment companies that are treated as management expenses under section 63(3)