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Posted Wed, 30 Aug 2023 12:58:53 GMT by Kar Man Kwan
I commenced a new consultancy business in Hong Kong during the year ended 31 March 2021 and make profit in 2021 and 2022, however, i have suffered a loss in 2023 and intend to claim loss relief of ITA 2007 s72, which offset my loss to my previous years' profit and get the tax refund. I cannot locate anywhere in the tax return which i can fill in to apply the loss relief, please kindly advise. Thanks.
Posted Mon, 04 Sep 2023 15:43:22 GMT by HMRC Admin 32

If you used the cash basis for your self employment you wont be able to do this. It is only if it is traditional accounting that you can carry back. this is on box 34 of the SA103(S) and box 79 of the SA103(F)

Thank you.

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