I had a loss of several thousand GBP in the first year of operation. After I did the year-end process this loss has been moved to the Retained Profits Account which is OK.
But how can I use this loss against the profit from the next year (current year) so that I actually pay less Corporation Tax? When I do the Tax Report for the current year I don’t see this loss from the previous year anywhere, and the Est. Corporation Tax to be paid doesn’t take that loss into account. Do I need to introduce it manually?