Illustration - company loss relief
You'll learn how to relieve company losses across multiple accounting periods and identify what can be carried back, carried forward, or is permanently lost.
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In this lesson
- 0:00 Loss relief illustration overview
- 0:46 Non-trade interest and capital loss rules
- 1:30 Setting up the pro forma structure
- 2:53 Applying non-trade deficit carryback relief
- 3:37 Using capital losses against gains
- 4:24 Trading loss relief methodology
- 5:09 Qualifying charitable donations and final TTP
About this lesson
This illustration walks you through a three-year scenario with trading losses, non-trade deficits, and capital losses, showing you the order in which to claim relief and how to apply the carryback and carryforward rules correctly. You'll see how to populate the pro forma, handle each loss type according to its specific rules, and calculate taxable total profits while managing losses efficiently. This is essential for TX (Taxation) and covers the practical application of loss relief rules you'll need to master for the exam.
Duration: 6m
Transcript
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