Self employed loss offset against previous years paye?

anselld

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

Dazed_and_confused

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.pdf