Utilising COVID tax losses 2021-22

Many businesses have endured reduced profits or losses since COVID reared its head early 2020. This publication sets out how these losses can be utilised and possibly generate tax repayments. The booklet covers:

Unincorporated businesses:

  • Set-off against general income
  • Extended carry-back
  • Carry forward of losses
  • Losses in early years
  • Terminal losses


  • Against total profit of same accounting period
  • Against profits of a preceding period
  • Extended carry-back
  • Carry forward against future profits

Practical uses:

  • This is a useful handout for any business that has suffered financial losses 2020-21.
  • Add material to your website and drive traffic to the page using social media.
  • Send a copy to staff. Will update their understanding of the issues presented. You could also instruct them to send copies to any friends or family that may find the information useful.

Other Spotlights publications available to subscribers

EU e commerce changes July 2021
Pension Contributions - tax breaks 2021.22
Working from home - tax breaks 2021-22
Off-payroll working changes - from 6 April 2021
Trivial benefits - tax-free benefits 2021-22
Extracting company profits - strategies for 2021-22
New to self-employment - tax and NIC 2021-22
Capital expenditure - tax breaks 2021-22
Incorporating a property business - 2021-22
Making the most of digital accounting 2021-22
Staying ahead of business challenges 2021-22
Why tax planning is a sound investment 2021-22
New business challenges in the post-COVID economy 2021-22
Business exit challenges in a post-COVID economy
Creating multiple income streams 2021-22