Carrying forward losses over multiple years: a bug in the self-assessment form?

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  • AshC
    replied
    Further to my post above, this is also confirmed by HMRC in answer to a forum question:

    https://online.hmrc.gov.uk/webchatpr...list/2792.page

    Leave a comment:


  • AshC
    replied
    Thanks Banzai - I had the same issue and that is how I read the notes that appeared in the question mark on the online form (similar to the note referred to by mjlandlord above but the note is slightly longer for box 39 on the online form). I thought I was going mad so it's assuring to find that I was not the only one panicking!

    Leave a comment:


  • mjlandlord
    replied
    If you click on the ? by the "Loss to carry forward to following year, including unused losses brought forward:"

    it takes you to this page - https://www.tax.service.gov.uk/infor...rryForwardHelp

    this says "If your loss is higher than your profit, provide the remaining losses available to carry forward in the any other information for other property income."

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  • Banzai
    replied
    I have just spoken to HMRC on the phone.

    There is a system issue if you try to carry forwards a previous loss when you are also declaring a loss for the current year's return.

    The HMRC operator consulted a technician colleague and the following is the solution offered:

    1) Leave the box "Loss brought forward used against this year's profits" blank.

    2) Click "Save and Continue"

    3) Add comments in the box to explain the previous loss, the current loss and the total loss to be carried over to 2018/19.

    I also made mention that the additional text was agreed during a phone call to HMRC and added today's date.


    I hope this helps.


    Banzai

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  • jpkeates
    replied
    You can't do the return online at the moment.

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  • Banzai
    replied
    Originally posted by theartfullodger View Post
    It was in the old days (2004-ish?) of paper returns. I corrected by accountants mistake that he had charged for, had him re-submit, sorted.
    Thanks for the reply, still searching for a solution to what should be a straightforward occurrence...

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  • theartfullodger
    replied
    It was in the old days (2004-ish?) of paper returns. I corrected by accountants mistake that he had charged for, had him re-submit, sorted.

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  • Banzai
    replied
    Originally posted by theartfullodger View Post

    Not necessarily: I stopped using my accountant when he was about to submit my return WITHOUT carrying the loss forward.
    Artful - how did you submit your SA return with the loss carried forward?


    Regards,


    Banzai

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  • theartfullodger
    replied
    Originally posted by JK0 View Post

    An accountant.
    Not necessarily: I stopped using my accountant when he was about to submit my return WITHOUT carrying the loss forward.

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  • JK0
    replied
    Originally posted by Banzai View Post

    What do I need to do to get the system to accept a total of £20000 to be carried forward to 2018/19?
    An accountant.

    Leave a comment:


  • Banzai
    replied
    Apologies for resurrecting this thread but I have encountered a similar issue and would really appreciate some help....

    2016/17 loss £15000

    2017/18 loss £5000

    What do I need to do to get the system to accept a total of £20000 to be carried forward to 2018/19?


    Many thanks,


    Banzai

    Leave a comment:


  • JamesHopeful
    replied
    Originally posted by Sandi View Post
    I have the same issue and it seems really silly that they have removed the losses brought forward box especially as there is a loss carry forward box.
    thank you, it reassures me to know I'm not the only one

    Leave a comment:


  • Gordon999
    replied
    Better to submit a paper tax return showing the loss carried forward to next year and keep a photocopy.

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  • Sandi
    replied
    I have the same issue and it seems really silly that they have removed the losses brought forward box especially as there is a loss carry forward box.

    Leave a comment:


  • JamesHopeful
    replied
    Thank you for the reply; I'm glad I'm not the only one. I will just go for that option, as it does seem that it will work.

    Leave a comment:

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