In the UK, when filling a CT600 form:
- What's the meaning of "Trading losses brought forward claimed against profits" (box 4)? Is it, for a previous year, the operating profit (turnover minus cost) or the profit on ordinary activity before taxation (as operating profit but also including gross interest received and other charges)?
- How many years' losses can I include in this year's account? For example, for this year's account, can I include losses from the previous two years?
Thanks
Praful