A temporary acceleration of corporation tax loss is available to profitable companies which have become lossmaking during the COVID-19 period. Such companies may project trading losses for the current accounting period and make an early claim to carry-back up to 50 per cent of those losses for offset against taxable profits of the preceding accounting period. Companies must be tax compliant and must have incurred or expect to incur a trading loss in an accounting period which includes some or all of the period from 1 March 2020 to 31 December 2020. A company will be able to revise its interim claim as the current accounting period progresses, including increasing the claim where the company estimates that its loss is greater than previously expected.