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  • RE: Query relating to bringing loss forward if self employed

    The box will not accept the amount when I put in profit for this year. In fact it wont accept any amount. Why is this please.
  • Selling of part of home - capital gain tax implications

    Hello. I have owned a property with my husband for almost 30 years, totalling 3.5 acres. It has always been our main residence apart from 5.5 years when he worked away in the UK and we rented out the property. It is our main residence again. We have also got planning permission to build a new house on part of the land. We are thinking now of downsizing and selling off the main residence and keeping the building plot and 2 acres of land. Please advise what the implications are for capital gains tax.
  • Query relating to bringing loss forward if self employed

    I am trying to complete my self assessment form for 21/22. I have a loss to bring forward from 20/21 but when I enter it in the box called Loss brought forward from earlier years set-off against 2021-2022 profits and error message keeps coming up saying "the amount entered for less brought forward from earlier years set off against 2021-2022 profits cannot exceed the amount entered for net business profile for tax purposes. Please check". Therefore it seems that I am unable to bring forward any losses which are above my 21/22 profit. This does not seem correct as I have read in other guidance that there are allowances up to £50,000 which can be carried forward. Please can someone advise if I am putting loss figures in the incorrect box or if the amount that can be carried forward is limited to profit in the current year. Many thanks.