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xoggoth
16th August 2004, 17:28
Can someone confirm or otherwise procedures for reclaiming CT from previous year if you make a loss?

As far as I know you can carry a loss backward one year so I ticked box on CT600 for loss year to say I was reclaiming CT from previous year and enclosed my calcs, same as last years calcs but with profit reduced by this year's loss.

Months go by, no sign of my refund so wrote again. Get back notice saying basically amount due ignoring carry back less amount paid equals 0. WTF? Or have I got the procedure all wrong?

Any comments apreciated.

whats in a name
16th August 2004, 20:13
Xog,

If you do it within a year of submitting your previous return you can submit an amendment to the original return which allows you to reduce the declared profit by your loss. Or at least thats what they have told me - but I havnt actually submitted this years yet. They told me to send this years return together with last years and the calculation if possible (I couldnt 'cos i had been lazy and only had a couple of days to get last years in.)

Sounds like you have done the necessary - are your office any good when you speak to them ? Im dealt with from Leeds and I have to say they are always very helpful either on the phone or if I go in.

xoggoth
19th August 2004, 10:37
Can't quite understand why I got an acknowledgement showing amount due as zero, but my refund cheque arrived today. Wierd!