If your limited company reports a corporation tax trading loss in its accounts, this can be carried forward to offset against future profits with no expiry, enabling you to get tax relief in future profitable periods. Alternatively, losses can be surrendered to other group companies with profits in exchange for a small tax credit. If you cease trading, losses can sometimes be claimed against personal income for earlier periods. As your accountants, our goal is to ensure tax losses are fully utilised to minimise your overall liability.