Day 5. Corporation Tax Liabilities

E5. Relief for losses

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.