Self employed

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?

Hi,

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.