Immediate Relief for Extended Loss Carry Back

As a measure to help companies that have suffered losses due to the pandemic the government announced that any losses incurred on accounting periods ending between 1st April 2020 – 31st March 2022 are eligible to be carried back up to three years.

Claims over £200,000 must be made in the company tax return however for any claims below this, the claim can be made before your tax return has been submitted.

Due to the tax adjustments that are made when arriving at your trading losses it would be beneficial to have this claim form prepared by your accountant or a professional to eliminate the risk of errors.

Information needed to complete this form;

  • Company name, agent code (if relevant) and Unique Taxpayer Reference.
  • Details of the accounting period during which the loss was incurred.
  • Evidence of the loss incurred in the form of management accounts as a PDF if a tax return has not yet been completed for the loss-making accounting period.
  • Dates of accounting periods to carry the loss back to and the relevant amounts.

If you think you may be eligible for relief and would like to know more, please get in touch.

Published
8th September 2021