Another quick self assessment question

London_calling

Hi

Just completing my return, I remain employed and self-employed.

My self-employed income is under £1000 (small loss) but I want to include that loss on my return, but as I answered no to my income being over £1000, that section isn't available on the website. Do I just ignore it? What about 18/19 - it's over £1000.

?

pjclar02

Hello there

I never use the HMRC software, but can you not go back and change your answer to the question to say your income is over £1,000 - will it then let you map in the required numbers?

London_calling

Well, not without increasing tax exposure...
I just didn't put anything, it clearly said if it's less than £1k then it doesn't need to be included, odd but there you go...

pramsay13

https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income

"You must register for Self Assessment and declare your income on a tax return when:

you’ve made a loss and want to claim relief on a tax return (Help Sheet 227 has more information about losses)"

London_calling

pramsay13 wrote: »

https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income

"You must register for Self Assessment and declare your income on a tax return when:

you’ve made a loss and want to claim relief on a tax return (Help Sheet 227 has more information about losses)"

I have, and I haven't answered anything untruthfully but the website doesn't allow me to enter that loss. It seems I'd have to lie in order to do so! Or fill out a paper one?

Heedtheadvice

“
I have, and I haven't answered anything untruthfully but the website doesn't allow me to enter that loss. It seems I'd have to lie in order to do so!

Yes more or less. There are significant shortcomings currently with the HMRC on line software forms. I have come accross several 'errors' where one has to enter incorrect information to get the cofrect answer or the ability to enter details such as your loss. Another very similar area is land and property income also with a question about income about the £1k amount that if answered by figure ' less than ' then gives a return stating no such income!!


You need to do as posted above, incorrect though it is in the SA submission.


I have complained to HMRC. Perhaps they will get it right sometime in the future......and get something else wrong as a result! Poor isn't it......

[Deleted User]

This is the answer:

If you carried on a trade or vocation as a self-employed person (but not in a partnership) or you were a subcontractor working in the building industry and your turnover was more than £1,000 in the year ended 5 April 2018, choose ‘Yes’ from the drop down menu even if you made a loss. If your Self-employment and miscellaneous turnover was up to £1,000 this is exempt from tax and you don’t need to report this on a tax return, if this applies to you choose ‘No’ from the drop down menu.

If you are self-employed and your turnover was £1,000 or less you may choose to complete the ‘self-employment’ section if:

your allowable expenses are higher than your turnover and you want to claim relief for the loss or carry forward a loss to be used against future profits