CAT / FIA FTX Classroom - Syllabus E5. Relief for losses 5 / 8
a) Explain the loss reliefs available for both trade and non trade losses.
b) Illustrate the use of the loss reliefs in a basic calculation
i) trade losses
– CTA 2010 s37 current period
– CTA 2010 s37 carry back (including cessation)
– CTA 2010 s45 carry forward
ii) non trade losses
– property business loss relief
– capital losses
– explain the impact of cessation of trade on trade and non trade losses.
c) Compute corporation tax repayable following a loss relief claim.