no profit for 2011/2012

raq

Hope someone can answer the following for us.

My husband had a loss in the tax year 2010/2011 , basically we didn,t have a tax payment this january.

When I receive the tax form in april 2012 do i state the minus figure on the forms or do the tax office automatically do this. Really unsure and need to know as the year 2011/2012 going the same way as we haven,t had any work for 9 weeks.:o

thanks

ceeforcat

The loss will have been declared on 2010/11 return. The 2011/12 return will be completed in the same way. If there is a loss this will be added to the loss from the previous year - we have something like:

Loss b/f from 2010/11
Plus Loss this year 2011/12
equals new Loss c/f.

raq

thankyou ceeforcat. so basically i input this information on the forms ??

Regards

roger_c

You need to put the 2010/11 loss on the 2011/12 forms yourself, if there is a loss brought forward (b/f) and you did not use this loss to offset against 'other income' from the 2010/11 tax year.

raq

thankyou so much