Not really a big deal - but as my tax year has ended I am spending
inordinate amounts of time assessing the damage, and I have just spotted the
tax year 08/09 - my business had just started, and I made a loss of £201,
which I marked to carry forward in box 34.
tax year 09/10 - my business made a small profit, but I earned below the tax
allowance threshold. I marked in the box that, once again, I would be
carrying it forward in box 34.
tax year 10/11 - my business made a healthy profit... I forgot all about my
carried-forward loss and submitted the tax return without any reference to it.
Two questions, if you would be kind enough to help:
1) Have I declared my losses correctly? Am I even understanding the system
2) Have I lost my loss forever? If not, what do I do?
I know it's not much, but getting circa £40 back would be better than
Thanks as always
- posted 8 years ago