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The table below provides a high-level summary of the different ways in which a company can obtain relief for certain corporation tax losses.

Relief for corporation tax losses is in all cases limited by certain conditions, exclusions and anti-avoidance rules. These are discussed in more detail in the Practice Notes referred to in the table.

The rules applicable to corporate carried-forward income losses was significantly amended with effect from 1 April 2017. The changes introduced:

1. •

   a loss relaxation—this allows most carried-forward income losses arising from 1 April 2017 to be used more flexibly against the total taxable profits, rather than particular types of profits, of a company and to be surrendered as group relief, and

2. •

   a corporate income loss restriction (CILR)—this imposes a limit, of broadly 50%, on the amount of total profits arising on or after 1 April 2017 that can be relieved by carried-forward income losses. The loss restriction applies to both post-1 April 2017 losses and pre-1 April 2017 losses

A similar loss restriction was introduced for carried-forward (allowable) capital losses with effect from