UK trades

Enter on the Details tab information about the trade such as its name and commencement date. If the trade has ceased, then enter the cessation date here also.

You cannot enter figures of the profit or loss here. These should instead be entered at Profit and Loss. You should, however, enter here details of prior year adjustments, and other adjustments.

Summarises the capital allowance claims made in respect of this trade.

With the exception of claims in respect of certain cars, no figures are entered on this tab. You should instead make all capital allowance claims from the Fixed asset register. Select the relevant linked amount on the Capital allowances tab to go to that capital allowances page where you can amend AIA claims or disclaim WDAs and/or FYAs. Any capital allowances details entered in the Fixed asset register which relate to this trade and changes made in each capital allowances page will be reflected in the Capital allowances tab.

The Losses tab has three subtabs (Losses This Period, Losses B/F and Losses B/B) and each shows the amount of the loss for the respective loss type for this trade.

Use the subtabs to show how the respective loss types should be used.

Losses This Period

Enter in the relevant box the amount of losses:

• foregone
• relieved in the current period
• surrendered as group relief (see Note 1)
• relieved in the previous period
• relieved in periods prior to the previous period

• relieved in periods prior to the previous period under the temporary extension rules in FA 2021, s18 and Schedule 2

• relieved under the terminal loss relief rules

• relieved under the terminal loss relief for carried forward losses rules

• surrendered for R&D tax relief under the SMEs scheme or the R&D-intensive SME scheme (see Note 2)

  Note:

  1. To enter losses in Group relief surrendered, there must be at least one associated company (or one 51% group company during periods between 1 April 2015 and 31 March 2023) excluding this company entered at Return information.

  2. If the company is a loss-making R&D-intensive SME, check R&D intensity condition met in accounting periods starting on or after 1 April 2024. R&D intensity condition met is enabled if Total available exceeds zero and Total R&D expenditure incurred by R&D-intensive SME / R&D expenditure incurred by R&D-intensive SME on the R&D Claims Summary screen exceeds zero.

  For accounting periods ending on or after 1 April 2023, where Surrendered for R&D tax relief is editable the Maximum losses that may be surrendered for R&D tax relief section is displayed. The shows the maximum losses that may be surrendered (and how it is calculated in accordance with the legislation and HMRC guidance, including where there is a change in the rate of enhancement for R&D expenditure). The amount entered in Surrendered for R&D tax relief must not exceed the calculated amount in the new section.

  The calculated amount is the lower of the unrelieved trading loss and the enhanced R&D expenditure. The unrelieved trading loss means the trading loss of the accounting period reduced by any actual and potential claims for relief for that loss in that same accounting period and any other actual loss relief claims in respect of that loss. No account is taken of losses brought forward or carried back to the accounting period.

  Where the PAYE/NICs cap applies, the amount entered in Surrendered for R&D tax relief may need to be reduced to ensure the cap is not exceeded.

  An entry in Surrendered for R&D tax relief must only be made if the company is a going concern at the time an R&D claim is made. If the company is not a going concern at the time an R&D claim is made, do not make an entry. See CTA 2009, s1054 and s1112F(4) or previously s1057.

Losses B/F

Enter in the relevant box the amount of losses:

• foregone or no longer available

• transferred in and available for relief

• surrendered as group relief

• relieved against interest and dividends treated as trade profits

• surplus qualifying charitable donations and any surrendered as group relief

• transferred out

• extinguished on cessation

  Note:

  To enter losses in Less: Qualifying charitable donations surrendered as group relief, there must be at least one associated company (or one 51% group company during periods between 1 April 2015 and 31 March 2023) excluding this company entered at Return information.

  If the company is a loss-making R&D-intensive SME, check R&D intensity condition met. in accounting periods starting on or after 1 April 2024. R&D intensity condition met is enabled if Total available exceeds zero and Total R&D expenditure incurred by R&D-intensive SME / R&D expenditure incurred by R&D-intensive SME on the R&D Claims tab exceeds zero.

Losses b/f and Losses c/f have to be analysed between those arising before 1 April 2017 and those arising after 31 March 2017.

Any losses not specifically allocated in the above boxes will be carried forward to the next period. Carried forward losses do not show on the Losses summary, as you do not have to make an election in their respect.

Losses B/B

Enter in the relevant box the amount of losses:

• brought back

• brought back under the temporary extension rules in FA 2021, s18 and Schedule 2

• brought back under the terminal loss relief rules including relief for carried forward losses

The Losses B/B subtab requires the accounting period (AP) end date of the AP from which losses have been brought back to be entered. Where trade losses are brought back from more than one UK trade, the respective date entered in each of those UK trade's Losses B/B subtab must be the same for all UK trades. The date entered populates the equivalent date in the Tax computation.

The information entered here will help to populate Losses summary, which reports the loss claim elections.