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Posted Sun, 22 Oct 2023 18:59:08 GMT by Ro_
Hello, I have a rather simple question, but I don't know what to do when filling in my SA return for 2022-23. I hope you can help me please. In year 2021-22 I had a loss and I reported it; it's in the form I downloaded (PDF file) once I finished filling in my return. However, I've learnt that I should've put the amount also in another field titled "Total loss to carry forward after all other set-offs", which I didn't. So, is it okay to bring forward that loss to my 2022-23 tax return? Kind regards
Posted Thu, 26 Oct 2023 09:50:18 GMT by HMRC Admin 20 Response
Hi Ro_HMRC_forums,

There is no requirement to report losses to HMRC.  You don't mention what the loss relates to.  If you want to carry the loss forward to set against a profit in a future tax year, then you need to complete the appropriate supplementary page.  SA103 (self employment) SA104 (partnerships) SA105 (property) SA106 (foreign) SA108 (Capital gains).  
You declare the disposal amount and your costs and show the amount of loss and advise what you want to do.  If you are completing your tax return online, you will need to tick 'yes' to the relevant section, where you would normally show the profit.

Thank you.
 

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