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It is possible to use losses in several ways including:

1. Ìý

   •ÌýÌýÌýÌý current year loss relief and then carry back (D1.1104)

2. Ìý

   •ÌýÌýÌýÌý group relief (current year and carry forward), and

3. Ìý

   •ÌýÌýÌýÌý carry forward (D1.1106, D1.1108)

When using losses, it is important to obtain relief at the highest rate of tax. It is also typically beneficial to use the losses up sooner rather than later, though each case should be considered separately.

There may be two 'pools' of losses — those that can be carried forward for offset against future total profits and those that are restricted (eg pre 1 April 2017 losses, or non-qualifying post 1 April 2017 losses that can only be carried forward for offset against future trading profits). It may be sensible to consider using the losses that are restricted in priority to other losses carried forward. This may allow greater flexibility going forward with the remaining losses.

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