I’ve been filing returns for about 10 years, so all I’ve ever done is the same kind of simple return. Modest earnings on top of PAYE set against expenses. But now I’ve got a query about net losses. I have PAYE income from a main employer (through which I pay a lot of tax), and am also self-employed.
Last year I posted a net loss of X, and was expecting to get a rebate but nothing arrived. (I presumed this was from some sort miscalculation on my part). This year, I have posted another loss of Y. But yet again, when I went to calculate my tax, HMRC said I owed them a small amount of tax, rather than them owing me.
Am I right in thinking that the net losses of X and Y mean I’ve overpaid tax last year, and am set to do so this year, too? Ideally, I’d like a rebate for these losses. Does anyone have any idea what I need to do? Is there some box I’m supposed to tick, or form I’m supposed to fill out.
Many thanks in advance for help.