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  • Tax

    Losses bought forward on self assessment form

    Apologies if this question has been asked before.

    I am just completing the 2017/18 self assessment form. In previous years i have been able to add my losses brought forward to offset any profits.  I have losses of £46k to bring forward and further losses in 17/18  of £10k due to a major refurbishment.

    When I try to enter the £46k to add to the £10k I get this message

    "loss brought forward used against this year's profits must not exceed "adjusted profit for the year!  Please amend.

    In previous years the two figures have added together automatically to give me a new carried forward figure.

    Do I now just proceed with registering the £10k loss this year, and then keep my own record of the £46k loss,  and use that year by year to offset any future profit until it is all used up?

    Thanks in advance.

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    it's a blip in hmrc software

    give me a call

    deb

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    Debbie Franklin

    Director of Tax Peplows Limited

    CTA ACA FCCA


    thanks will do tomorrow.

    Happy New Year !

    P

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