could i clame just wondering

[kellym3]

right ladys for the past 3 years i have earnt nothing (so no tax to pay)but over the years i am soo out of pocket last count about 4grand is there anyway i could clame for it as keep putting money in to build my business and its not working is there any way i can get it back just wondering if lost for good (basicly my buisness has failed) interested if any1 has an answer.

[kellym3]

sorry about lhe spelling mistakes

[sonia ann]

i don't think there is anyway of "getting your money back" like you ask.........but you can off set losses against the next tax years income.
i'm presuming you are talking about childminding.......have you had any income at all from minding?

[kellym3]

nope struggling to fill spaces i have 1 2yo 3hrs a week and a 13yo 3hrs a week so not much.1 child is vegy so have to do seperate dinner ect then im on a course one evening next week so thats petrol/milage so will be out of pocket thats how it is working out spending more than earning though have cut back a lot over the years (looking at it as one day childminding will take off )

[kindredspirits]

no theres nothing you can claim - if you set up a business then the loss or profits are yours to bear.

[Chatterbox Childcare]

I would expect to make a loss in the first year but not thereafter. If you want some help please pm me.

You just need to carry the loss forward each year and when you make a profit it will reduce the tax