Extended
carry back
If your business has been
adversely affected by the Covid-19 pandemic resulting in a loss, you may be
able to benefit from the extended carry-back provisions to generate a tax
repayment.
For income tax purposes,
losses for 2020/21 and 2021/22 can be carried back for up to three years (to
the extent that the loss has not been relieved against other income of the same
or the previous accounting period).
For corporation tax purposes,
a loss for accounting periods ending between 1 April 2020 and 31 March 2022 can
be carried back three years, rather than the usual one.
We can help ensure that you
obtain the best possible relief for any losses that you have incurred.
