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Income Tax Losses

NinkyNonk_2
Posts: 116 Forumite
I'm filling in my self assessment tax return... OMG, this is so hard and hmrc website don't explain things well!!! Anyway...
I'm stuck on the income tax losses section. I have a turnover of £800 and expenses of £1000 for the tax year 2011-12. This is my first year of business.
Earlier years' losses (which can be set against certain other income in 2011-12):£ 1st year of business so this remains blank.
Unused losses carried forward:£200
Relief now for 2012-13 trading, or certain capital losses:£ Is this £200, same as the above answer of losses carried forward? I think it is but after looking around on some over websites, I'm not sure.
Year for which you are claiming relief above: Will this be 2011-12 or 2012-13?
PLEASE help!!!!!!!
p.s. I'm really concerned I'm going to mess this up and submit an incorrect form. If I do, can I change it later? Or before I click submit can I give hmrc a call and they can have a look for me if I have completed it correctly?
I'm stuck on the income tax losses section. I have a turnover of £800 and expenses of £1000 for the tax year 2011-12. This is my first year of business.
Earlier years' losses (which can be set against certain other income in 2011-12):£ 1st year of business so this remains blank.
Unused losses carried forward:£200
Relief now for 2012-13 trading, or certain capital losses:£ Is this £200, same as the above answer of losses carried forward? I think it is but after looking around on some over websites, I'm not sure.
Year for which you are claiming relief above: Will this be 2011-12 or 2012-13?
PLEASE help!!!!!!!
p.s. I'm really concerned I'm going to mess this up and submit an incorrect form. If I do, can I change it later? Or before I click submit can I give hmrc a call and they can have a look for me if I have completed it correctly?
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