Self Assessment Help - Carrying loss forward

dave_evans

Filling out my third self assessment tax return and hoping someone might be able to help me;

In my 16/17 tax return I made a loss which I recorded in box 22 ("Net loss"), which I was intending to offset my profits in this years tax return.

Doing my tax return this year now - I checked back on my 16/17 return to recall the loss I entered and realised that I didn't enter anything in box 35 ("Total loss to carry forward after all other set-offs") - looking back at it now it seems pretty obvious that I should have filled that box in with the same amount that I put in box 22? Feeling a bit stupid now..

So my question is, can I still bring forward that loss even though I didn't enter it in box 35?
Or because I did enter the loss figure in box 22 that would suffice if there was ever a question over it?
Or should I simply kiss goodbye to bringing that loss forward because I never indicated I wanted to do so, therefore accepting my witless mistake...!

Any help would be really appreciated,

Thank you

jimmo

You could amend your 2016/17 Return.
https://www.gov.uk/self-assessment-tax-returns/corrections

[Deleted User]

jimmo wrote: »

You could amend your 2016/17 Return.
https://www.gov.uk/self-assessment-tax-returns/corrections

I agree that this is the safest option.

However it cou,d be argued that, in the absence of any other loss claim, the default position is that the loss is carried forward. Certainly, in years gone by and having declared the loss, I don’t remember having to make the claim to carry forward ( as with other time limited options)

dave_evans

Thank you both for the replies, I didn't know you could amend a previous tax return, once I found the option it was really easy and I corrected it in just a few minutes.

And relax!

Thanks again