HMRC have now provided access to a new online form to be used by companies to make de minimis claims under the new temporary extended loss carry-back rules.

The rules allow up to £2 million of Company tax losses arising in accounting periods ending between 1 April 2020 and 31 March 2022 to be carried back up to three years.

Claims over £200,000 must be made in the company tax return. Claims below that limit are classed as de minimis and can be made outside of the tax return by completing the new form which can be accessed here

Information required to make the claim includes:

  • 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.

HMRC have already confirmed that claims made before Royal Assent of Finance Act 2021 on 10 June 2021 must now be resubmitted as they will not be processed.

Useful guides on this topic

Losses: Trading and other losses
UPDATE: When can a company offset its losses? What restrictions are there? How do the temporary extended loss carry-back rules work? How do you make a de minimis claim?

Year-end tax planning review
A checklist for companies to use ahead of the end of their accounting period.

Company tax claim checklist
What are the time limits for Corporation tax claims and elections? How are claims and elections made?

External Link

HMRC: Make a claim for extended loss carry-back 

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