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Posted Thu, 10 Nov 2022 11:52:30 GMT by Tina
Our company 's year end of 30 Sep 2022 has made a trading loss in they current year and last year. I am aware that Extended Loss carry back only applied to Accounts ending before 31 March 2022, may I claim 50% of the losses (6 months - Oct21 to Mar22) or not eligibility to claim anything as already passed 31 Mar 2022? Thanks
Posted Wed, 23 Nov 2022 12:25:24 GMT by HMRC Admin 32

The extended loss carry back provisions only apply to accounting periods ending between 1 April 2020 and 31 March 2022.  

In this case the accounting period ended after 31 March 2022, therefore trading losses can only be set off against total profits of the preceding 12 month period.  

Thank you.

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