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Posted Tue, 11 Apr 2023 12:39:33 GMT by DavidG1903
My niece set up a business in September 2022 and had not made £1,000 yet so in theory should not complete a self assessment tax return, but she has expenses of over £4,000 should she submit a return to take advantage of the losses in future years?
Posted Tue, 18 Apr 2023 14:18:01 GMT by HMRC Admin 32

To claim those losses for 2022 to 2023 tax year, your neice will need to submit a tax return, showing her turnover and expenses, as well as declaring what her intention is to do with those losses.

Thank you.

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