Tx notes fa22 Final

 
Example 4
 
 
A Ltd ceased trading on 31 March 2023. It had the following results for the five accounting periods to 
31 March 2023:
Show the Taxable Total Profits for all accounting periods.


y/e 
30/9/19
6 months 
to 
31/3/20
y/e 
31/3/21
y/e 
31/3/22
y/e 
31/3/23
£
£
£
£
£
Trading profit / (loss)
10,000
16,000
20,000
32,000
(97,000)
Bank interest
2,000
-
2,000
2,000
2,000
Chargeable gains
-
-
6,000
-
8,000
Qualifying charitable donations
500
-
500
500
-

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2.4. Carry forward relief 
(a)
If any loss remains unrelieved after current year and carry back claims have been made or no 
such claims were made, then the loss is carried forward.
(b)
Under carry forward relief any such losses are carried forward for relief against any part of 
future total profits of the company. There is no time limit on the carry forward period and 
partial loss relief claims may be made to, for example, avoid wasting qualifying charitable 
donations.
(c)
A claim must be made within 2 years of of the end of the accounting period in which the loss is 
to be relieved.