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Someone's freelance situation
hstudent
Posts: 599 Forumite
in Cutting tax
Someone I know has paid for some software to be able to do some freelance work. However, the amount of money they'll make this tax year will be £25 less than the software costs. Do they have to declare the amount they've made to Revenue & Customs?
0
Comments
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They should declare the loss and claim loss relief.£705,000 raised by client groups in the past 18 mths :beer:0
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The loss relief would reduce the overall tax liability and may result in a refund.£705,000 raised by client groups in the past 18 mths :beer:0
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