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Posted 5 days ago by Stuart Ward
I filled out my self assessment which is needed due to being a higher rate tax payer from my main employed income. In the section about losses I recorded losses made in my self employment side hustle with the expectation that these losses would cause a small reduction in my tax liability for the year under sideways relief. No matter which box I put the losses in, the loss amount doesn’t pull through to my calculation and the amount of tax owed remains the same. Should this automatically happen or do I need to speak to someone?
Posted a day ago by HMRC Admin 17 Response

Hi ,
 
On a paper SA103, you would declare the 'Loss from this tax year set off against other income for 2024–25' in box 33 on page SES2. 

In your online return, in the self employment losses section, you would enter the amount of losses to set against other income in the

box named 'Loss for this year set-off against other income for 6 April 2023 but before 6 April 2024'.

Thank you .

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