Carry back, carry forward or surrender – find the relief worth most
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When a company makes a trading loss it usually has a choice: set it against other profits of the same year, carry it back to get a refund of tax already paid, carry it forward against future profits, or surrender it to another group company. The choice matters – the rate of relief can be 19%, 25% or 26.5% depending on the year it lands in, and a refund now is worth more than a saving in two years' time. This planner models up to 8 accounting periods, applies the rules in the right order, compares four strategies by tax saved and by value in today's money, estimates refunds with HMRC repayment interest and tracks every claim deadline.
See how it works
The sheets you will use most, in the order you will use them – shown with the sample data every workbook comes with.
Step 1
Company settings, up to 8 periods, profits and losses, relief choices and losses brought forward. What you do: fill in every yellow cell.
Step 2
Losses surrendered to other group companies and the tax they save. What you do: enter group companies' profits and the surrenders you want.
Step 3
Your plan worked through step by step for every period, plus where each loss went. What you do: nothing to enter – read and check.
Step 4
Four strategies compared: tax payable, tax saved, value today, refunds and losses left. What you do: nothing to enter.
Who it is for
Quick start
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Part of AML Finance Group
Our sister firm, AML Accountancy Solutions, is an award-winning accountancy practice helping businesses and individuals across the UK with their accounts, tax, bookkeeping and payroll.
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