SA100 : Claiming loss relief against other income in same year

SA100 : Claiming loss relief against other income in same year

If you make a loss in your self-employment, you can offset the loss against your other income in the same tax year.

To do this, ensure your self-employment pages have been completed in full and head over to the REPORTS page and download a copy of your SA100.
Go to the SA103 section of your tax return and locate BOX 32:


Now, head back to GoSimpleTax and press VALIDATE MY TAX RETURN:

And then, assuming you have no errors, press YES:


Head to the question 'Are you claiming losses for businesses not declared before?' on the Almost there page and answer YES:

This will then give you some options of where to claim the losses, we are looking at a current year claim:

Enter the loss from BOX 32 we found earlier and tick the schedule where the loss was created.

The loss will now be included on the tax calculation and used to reduce the taxable income during the year:

    • Related Articles

    • SA108: How to add EIS/SEIS loss relief

      1. Click '+ NEW PAGE' and then select 'Capital Gains (SA108)' from the list of sources of income 2. Click '+ GAIN' and then select 'Unlisted shares and securities' from the drop-down list of categories. 3. Under the 'SALE' tab, enter the price you ...

    • SA108 : Can I set off income losses against Gains?

      Put the amount of any allowable trading losses that you want to set against chargeable gains in box 16. This should be the lower of: • the total losses you can claim • the amount required (after setting off capital losses for the year) to reduce the ...

    • SA100 : How do I add self employed losses from a previous tax year to my tax return?

      1. When on the self employed page please click EDIT 2. In the new popup please scroll down the page until you see 'losses from previous year'. Enter the total losses available to this box and then save. This will add the losses to your tax return and ...

    • Pension Tax Relief

      Are you worried about your pension fund? Retirement is a daunting prospect, and saving for the future should always be a top priority. Today, SimpleTax  will explain the basics about pension tax relief; how does it work and what are the limits? ...

    • SA109: How do I claim split year treatment?

      How do I claim split year treatment? To include split year treatment claim on your tax return, follow the instructions below. Please note, you should pay attention to the other questions on this page not covered in this guide, these are different for ...