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Posted Wed, 01 Nov 2023 11:12:03 GMT by Charlie Chatz
Hi all, I am confused about the "Loss brought forward from earlier years set-off against 2022-23 profits" part on the self assessment form. In my 2021-22 tax return I made a loss of £893.00 which I added it to the "Total loss to carry forward after all other set-offs - including unused losses brought forward:" part of my 21-22 self assessment. Now, I try to add this amount to the "Loss brought forward from earlier years set-off against 2022-23 profits" box but I get a warning notice at the top of the page that says "IMPORTANT: Please check the help on the 'Loss brought forward' field and review the figure entered in this box" Have I done something wrong or is it a generic warning? Thank you :)
Posted Thu, 02 Nov 2023 13:45:57 GMT by HMRC Admin 32
Hi,

If the loss you are bringing forward is more than your profit for this year, you will get that error message. You would only input the same amount as your profit. Any balance then left will be carried forward to next year.

Thank you.
Posted Sat, 04 Nov 2023 12:53:47 GMT by Charlie Chatz
I don't think is that though, because on the page it says total taxable profit £2422 and the loss I am trying to add is only £893. After adding that amount the total taxable profit goes down to £1529.
Posted Sat, 04 Nov 2023 12:55:03 GMT by Charlie Chatz
Even if I put £1 in the loss brought forward box, it highlights it as an error and tells me to check the entry.
Posted Wed, 08 Nov 2023 17:50:39 GMT by HMRC Admin 25
Hi Charlie Chatz,
The message "IMPORTANT: Please check the help on the 'Loss brought forward' field and review the figure entered in this box" is a warning.
It is not an error, but it is asking you to take another look at the figure of £893 entered and is asking your to check this is the correct figure.
If you click on save and continue after receiving the message, your loss figure will be accepted and you will move to the next section.
Thank you, 


 
Posted Tue, 23 Jan 2024 23:22:07 GMT by Gazz1000
We have a very similar scenario for partners in a partnership. Individual Partner trading profit for 2022/23 has been entered in the Partnership ( short) trading or professional profits pages and when an amount of losses brought forward from earlier years is deducted at page 3 of 3 the same warning as noted above comes up. When the save and continue button is pressed it allows you to proceed, however when you get to the ‘Check your return’ page you still get this message ‘ We have checked your return, and you have 1 entry we want you to revisit. Please review the accuracy of this entry.’ The entry to be revisited is the losses brought forward amount It seems that the warning persists even when the accuracy has been reviewed and confirmed. Is that correct or is there something else which should be done?
Posted Fri, 26 Jan 2024 14:27:23 GMT by HMRC Admin 25
Hi Gazz1000,
It's correct as its an advisory message only.
Thank you. 
 

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