Ofsetting partner's losses against my earnings

no-oneknowsme

On the positive side , your Husband is bringing home £40k per year . There are a lot of families who would give anything to earn money such as that.

There are people on this site every day struggling on benefits with small children to raise.

I think you should be grateful for what you have.

Our household has a yearly income of £15,500.

Now , thats not very much but we get by . We are grateful for what we have , it could be a lot worse and we could be struggling to find employment.

Always remember there are people who are a lot worse off.

music112

I do honestly appreciate that, but (isn' t there always) it's just why is almost half taken in tax / I honestly don't get it / there is fcuk all incentive to be in the UK & the husband has been offered a position in the states, we would not be taxed as much. ALL, we have digressed off the main topic & yes I am prob being a selfish so & so but I am losing dosh trying to set up a biz & am at wit's end

zagfles

babyontheway wrote: »

Thanks for that, I was aware of ofsetting his future profit against previous losses but can they do it from his income to mine? That's the bit that sounds a bit dodgy to me.

They have allowed us to take his losses from last year and take them away from my earnings for last year.

It does sound dodgy, but google TC825 which hits on the HMRC site. It's a working sheet which tells you what to put in the boxes.