Patryk

Hi, I have reviewed this document and I will be grateful if you can confirm if I understood it correctly. In order to make negligence value claim I have to calculate the whole asset loss ( assets I am still an owner ) for sake of this example let say capital loss on two assets is: £8000 £3000 Total capital loss must be written in section 37. Total number of relief against your income for the year 23/24 must be written down in section 41. Total number of relief against your income for the year 22/23 must be written down in section 43. In section 54, we have write down company details and calculations. - Company name - Company registration number - Country they reside - Country they pay taxes - Date when the asset became negligent Could you please confirm if that would be correct? Now the question is if the total amount of capital loss £11000 and the total income tax paid during the last two years is £9500, what would be the tax relief as it is not really clear. Would it be the whole £9500 ( income tax paid) and the remaining £1500 will be lost? If the amount of loss on the first asset in year 22/23 is £8000 and income tax paid for that year is only £5000, will the outstanding £3000 pounds be automatically calculated into the following year? Please provide some information and advice as it seems very complex procedure at least at first. Have a great evening Regards

I am currently experiencing significant losses in I value of my assets purchased during the year 2021, I am wondering if there is a chance I can claim a Negligence value claim on those losses against my income tax. I am currently employed so taxes are being done by my employer. I have never filled out any self-assessment forms, therefore I am wondering if there is any easy-to-understand guide on how I can submit the above-mentioned claim. Thank you