GREIT03105 – Entry to the regime: effects of entry: trading and other losses from pre-entry periods
The table below sets out the position for utilising losses etc arising in accounting periods up to the date the UK-ICTA rules first apply and which have not been offset against other profits of pre-entry accounting periods, either in the same company or surrendered as group relief. See GREIT03100 for descriptions of terms used below and for Table 1: capital losses
Table 2: trading and other losses etc
| Description | Type of loss etc | Can be used against |
| Qualifying UK property business | Schedule A loss | No carry forward since business ceases at entry (section 111(1) ICTA 2006) |
| Other UK property business | Schedule A loss (section 392A(2) ICTA) | Schedule A profits of C (residual) |
| Trade | Case I trading loss (section 393A ICTA) | Case I profits of C (residual) |
| Qualifying overseas property business | Case V property loss | No carry forward since business ceases at entry (section 111(1) ICTA 2006) |
| Other overseas property business | Case V property loss (section 392B ICTA) | Case V profits of other overseas property business of C (residual) |
| Other overseas income | Case V trading loss (section 393A ICTA) | Case V profits from same source for C (residual) |
| Case VI | section 396 ICTA | Case VI profits of C (residual) |
See
GREIT03100 and
GREIT03110 for Tables 1 and 3: capital
losses and other expenses etc.
