The following is intended as a guide only. Reliance can only be placed on information directly received from HMRC. SimpleTax is not authorised to give tax advice. Trading losses can be set against current or prior year income. Use though maybe ...
Losses carried back to previous years Click on + Group Expenses Select Tax Adjustments Select the category Current Year losses to carry back to previous years
If your business makes a loss you can get tax relief for it. You can do this by setting the loss against your income, gains or profits. This applies to Self-Employed and Property Rental trades. income for the current or previous year income in the ...