I have recently taken early retirement from my company after 36 years at the age of 58. I have taken my company pension on which I am paying tax at 20% (after deducting my tax allowance) via PAYE.
I have decided to become a self employed part time antique dealer and have registered as such with HMRC from 6th April 2011. I am likely to make a loss in my first year. Can I offset any loss in this new financial year against tax paid on my company pension in the same way as I assume I could on paid employment?
Thanks for any help.
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