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Posted Sat, 27 Jan 2024 17:40:49 GMT by
I had a loss in my first year of business last year. I have a very small profit this year but have been told I can maybe carry over last year's loss. But I can't see where to include this on the self assessment form. I thought it might go under "adjustments to tax due" but you hae to put an amount in the "decrease in tax due" box and I don't know what that will be. Any advice appreciated.
Posted Wed, 31 Jan 2024 09:24:53 GMT by HMRC Admin 19
Hi,

If you wish to use the loss from last year, you will show it within the self employed section as loss brought forward and used against this years profits.

Thank you.

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