CT on interest received in current account

[marc02]

A company this year has made a loss, BUT does have cash in a current account.

Is it correct that even though the company made a loss INCLUDING consideration of the interest received, Corporation Tax is still payable on the interest received element? Ie: The CT on interest is calculated independently from the rest of the business?

Thanks

[RMC]

Capital losses cannot be set off against interest, they can only be c/f.

[marc02]

Just so I’m clear...; is CT paid on interest earned regardless of other losses eg trading losses, loan repayments etc.

So even though the current wages, loan interest etc causes a loss, there is still CT to be pain on the interest earned from positive cash balance in current account?

[AdamS93]

You can offset current year trade losses against total income CTA 2010 s.37 (3)(a) subject to restrictions which are very unlikely to apply