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Posted Wed, 24 Jan 2024 15:10:52 GMT by
Hi I am self employed and file my returns using the cash basis In 2021-2022 I made a net business loss (for the first time in over 20 years) - can I bring it forward into this years tax return, and if so, where do I enter it in the return. Many thanks in advance Nick
Posted Mon, 29 Jan 2024 08:22:20 GMT by HMRC Admin 19

Yes, you can bring it forward to use against the same self employed source in the 2022/23 return. Within the self employed section,  look for the question, Loss brought forward from earlier years set off against this year’s profits. If the loss is more than the profit for this year, only use the amount of loss that you need and the balance will then be available to carry forward.

Thank you.

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