carryback
noun
(alsocarry-back);(carry back)uk/ˈkæriˌbæk/us[U]ACCOUNTING,TAX
thepracticeoftreatinga company'spresentprofitorlossas if ithappenedin anearlierperiod:
Thesechargescan bedeductedas if they weretradinglossesfor thepurposeof carry-back oflosses.
[C]ACCOUNTING
anamountthat iscopiedfrom alatercolumnofnumbersor alateraccountingperiodto anearlierone
[U]TAXUK
arulethatallowsanemployeetocountthis year'spaymentsintotheirpensionfundas if they were made in theprevioustaxyear:
Carry back gives anopportunityforimmediatetaxrelief.