## Documentation Index

Access the complete documentation index at:
https://www.zoho.com/uk/books/kb/llms.txt

Use this file to discover all available documentation pages before proceeding.

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# I have losses from a previous year. How do I apply them to my current return?

Losses incurred in previous years can be carried forward and applied to offset profits in later accounting periods. For example, if your business had a £20,000 loss in the previous year and made a £70,000 profit in the current year, you can use that £20,000 loss to reduce your taxable profit. After subtracting the carried-forward loss, the taxable profit becomes £50,000.

In Zoho Books, you can enter these carried-forward trading losses when generating your Corporation Tax return.

Here’s how:

*   Go to **Filing & Compliance** on the left sidebar and select **Corporation Tax**.
*   Select the return for which you want to enter the trading losses.
*   Under **Forms**, navigate to the **Computation** tab.
*   In the Computation form, scroll to the **Trading Losses** section.
*   Enter the loss amount in the **Brought Forward Trading Losses** field.

![Trading Losses](/uk/books/kb/images/corporation-tax/enter-brought-forward-trading-loss.png)

Zoho Books will automatically apply the carried-forward loss to offset the current period’s profits and update the _Net Profit After Losses_ accordingly.