Loss Relief Carry Back

acsacsacs

Currently trying to help a client with regards to claiming back corporation tax on a loss in the current year. Haven't done this for a while so just wanted to check as IRIS is confusing me a little.

2009 - £20,000 profit

2010 - £10,000 loss

I always believed that I could just claim back the relief and a repayment with the 2010 return. But looking at guidance on HMR&C and the screens on IRIS, not sure if I need to re-submit the 2009 return with the carry back on also. So in effect will be resubmitting the 2009 return with a re-calculation of corporation tax and the 2010 return utlising the loss for that year to 2009.

Any help would be appreciated.

groundy

Yes you need to carry back the loss and submit the recalculated 2009 showing the loss brought back. No refund is shown on the 2010.

acsacsacs

Cheers groundy.