Filing in Ct1 Return - 2023 - Carrying Loss forward

user060916

I've a tiny Ltd company that has had three accountancy periods

ending 31/8/2021 loss of 875

ending 31/8/2022 loss of 2099

ending 31/8/2023 gain of 5000

When filling out the CT1 for 2023 is the above correct? It was auto filled for me and the tax due is correct. Just curious why the two losses carried forward are treated differently in the form.

SureYWouldntYa

It auto filled with last year's (2022) data

Your losses forward from earlier periods (a) are 2,974 (755 plus 2,099)

You then input 2,974 into box b since you intend to utilise the losses, this will then include them in the calculation to reduce your taxable profits

Box c should be 0, as should the bottom box with total losses for the period

So long as you have 5,000 filled out in the profit for the trade, you should then see 2,026 @ 12.5% in the calculate section leading to a tax charge of €253. The autofilled form is probably still giving you the correct result since you have nothing in box c above