Forum

topBanner
First Previous - Page 1 of 1 - Next Last

self assessment - first year net loss

  • Member
  • Practice Licence
  • 3 posts
  • # 76044

Dear Members and Fellows

I am seeking advice on how and where to put a loss made from 2009/2010 on the 2010/11 self assessment tax return.   I have searched the HMRC website and can only find losses made on the sale of asset only.

Your guidance much appreciated.
kjmcculloch
  • 1159 posts
  • # 76045

I think box 21 of the SA103s is what you might be looking for, or box 47 if you use the SA103.

Kris

Edited at 03 Nov 2011 10:47 AM GMT
  • Member
  • Practice Licence
  • 3 posts
  • # 76047

kjmccullochsaid:

“I think box 21 of the SA103s is what you might be looking for, or box 47 if you use the SA103.

Kris

Edited at 03 Nov 2011 10:47 AM GMT”

Many thanks Kris

It was more where and how do I set-off the loss made in 2009/10 against profit in 2010/11?
kjmcculloch
  • 1159 posts
  • # 76048

Sorry, I misunderstood the question.  Have a look at the following guidance.  It gives a working sheet that allows you to calculate these.  My understanding, and I'm happy to be corrected is that you don't show the loss brought forward as that was shown on your last self assessment as a loss carried forward figure.  

http://www.hmrc.gov.uk/helpsheets/hs227.pdf

Kris 
kjmcculloch
  • 1159 posts
  • # 76050

Hi Christine, 

This was bothering me so I have confirmed that you don't need to show the loss you've carried forward.  The working sheet I refered to earlier will help you show any loss you are carrying forward once you have used some of it.

Kris 
First Previous - Page 1 of 1 - Next Last
bottomBanner
loading