My company made a loss last year — can I offset all of it against this year's profit?

Not fully. A tax loss carried forward from a prior period can offset up to 75% of taxable income in any given tax period — meaning the remaining 25% of that period's profit stays taxable regardless of how much accumulated loss you're still carrying. The cap applies year by year to taxable income, not to the total loss balance, so whatever isn't used carries forward to future periods with no currently defined time limit on how long it can be carried.

The second key condition is continuity of ownership and business. If ownership of the company changes by more than 50% between the period the loss arose and the period it's used, the loss still survives provided the company continues to carry on the same or a genuinely similar business afterward — same nature of goods or services, same customer base, broadly the same assets deployed. A substantive change in the nature of the activity (say, a full shift from trading to services) following an ownership change forfeits the ability to use the earlier loss. It's also worth noting that electing Small Business Relief in any period blocks using or carrying forward any losses in that same period. RASEEKH tracks clients' loss balances and ownership changes so the right to carry forward isn't lost without anyone noticing.