Income loss?
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Thread: Income loss?

  1. #1
    Join Date
    Sep 2009
    Posts
    36
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    Default Income loss?

    Hi,
    Can anyone help me? I'm fairly new to the tax return. I submitted my first last year and I made a loss (as most do in their first year)
    Do I declare this when I do my SA?

    Stuck on this bit. Can anyone help?



    It won't show the screengrab, but it's where it says:

    Earlier years' losses (which can be set against certain other income in 2011-12):£
    Unused losses carried forward:£
    Relief now for 2012-13 trading, or certain capital losses:£
    Year for which you are claiming relief above:
    e.g. YYYY-YY
    Last edited by CTL03; 18-04-2012 at 01:36 PM.

  2. #2
    Join Date
    Jan 2011
    Location
    Kingston upon Thames
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    951
    Non childminder member
    Accountant
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    Default

    Assuming you are talking about a loss in 2010/11, this goes in the box labelled "Loss brought forward from earlier years set off against this year’s profits" on the 2011/12 return.

 

 

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