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Posted Sat, 14 Dec 2024 15:04:19 GMT by Jonathan Timbrell
Hi, I would like some clarity as to how I should record some trading losses on my self assessment please. These would be in the ‘Other assets, property and gains’ section. Last year I declared a loss that I could carry forward of £8000. I also expect to have a loss that I could carry forward from this year of £3000. I would not be using any of the previous loss. How should I record this on this year’s form? Do I put the cumulative total of both losses into the box ‘Losses available to be carried forward’. ie. £11000. Many thanks
Posted Fri, 20 Dec 2024 14:35:36 GMT by HMRC Admin 32 Response
Hi,
You need to report the losses for this year by way of the capital gains section to show the disposals. Your previous years losses would then be carried forward along with this years.
Thank you.
Posted Fri, 20 Dec 2024 23:03:20 GMT by Jonathan Timbrell
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