04 Mar Extended Loss Carry Back For Businesses
Posted at 20:39h in Budget, Coronavirus
A temporary extension to the loss carry back rules for trading losses for both companies and unincorporated businesses was announced.
For accounting periods ending between 1 April 2020 and 31 March 2022, losses can be carried back three years rather than the current one year rule now.
The amount of the loss that can be carried back will be subject to a cap of £2,000,000 for each year carried back.