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Self employed loss offset against previous years paye?
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anselld
Posts: 8,634 Forumite
in Cutting tax
Hi,
I started being self employed this tax year and I also have some paye income from earlier in the tax year.
I will make a loss as SE in the year.
Question is, will I be able to offset that loss against previous tax years paye income or must I offset against the current year employment income first? (It would be better to choose previous years if possible as I was a higher rate taxpayer.)
thanks
I started being self employed this tax year and I also have some paye income from earlier in the tax year.
I will make a loss as SE in the year.
Question is, will I be able to offset that loss against previous tax years paye income or must I offset against the current year employment income first? (It would be better to choose previous years if possible as I was a higher rate taxpayer.)
thanks
0
Comments
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This might be helpful, it's for the previous tax year but might give you some pointers until the 12/13 version is available
http://www.hmrc.gov.uk/helpsheets/hs227.pdf0
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