I work full time in a 'proper' job (PAYE) but I am slowly building up a business for when I take early retirement in a couple of years time.
I have been purchasing capital equipment over the past four years mostly with my own money and also with money I have earned from the part-time business.
Each year I have reported a loss on my self-assessment form, due entirely to the purchase of capital equipment. If I disregarded the capital purchases, I would have made a small profit.
I have now heard that I can offset those losses, in previoius years, against my full time income and would like to know how I would go about that.
Many thanks in anticipation.
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