Regd Corporation tax refund - Pension carry forward

[WhereItRains]

Dear all,

A quick check before submitting my accounts please.

As the director, I have carried forward Employers pension contribution for 3 years to meet my threshold. While I did not have any income into the company in the last 2 years, my accountant suggests that I can still claim a corporation tax refund when I submit the accounts now, offset against the losses (pension contributions).

Is that fair to assume that my company would be eligible to claim Corporation tax refund this year despite no income (and hence no profits) ?

[ladymuck]

Yes. The reason why you're getting a refund is because your company has had expenses but no income/profit. If those expenses had been incurred in the years you're arributing them to, you would have paid less CT in those years.

[jamesbrown]

Yes, you can certainly carry back the loss for one year. After that, I think any remaining loss is carried forward to your next accounting year, but your accountant should know.