petepercent
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Can I claim my losses of 2019/2020 against my 23/24 profits?
Hi, My self-employment made a massive loss in the 2019/2020 tax year (I lost a business because of the pandemic). Due to health issues, for the next several years, I then earned less than the tax-free allowance so I had no tax to pay. For the 23/24 tax year, I want to know, can I use my losses to offset my income and my tax bill in the 23/24 tax year - or has too much time passed? If the deadline hasn't passed, and I can claim the loss, will I be able to do the same in the 24/25 tax year, or would this be the last eligible year? Any advice appreciated! Thank you!