Can I offset personal losses against a limited company

[wires]

Hi,
I have worked for 11 years as a teacher paying PAYE and left teaching in 2015. At the same time I was running a small unincorporated sole trader business and doing a self assessment return. Last year a formed a small Ltd company and have ploughed most of my money into it to get it off the ground. I am still registered as self employed and I am also required to do a company tax return as well as my self assessment form.

My question is this, I have read that if I am non incorporated I can write any losses off against the previous 3 years' tax paid. Is there any way in which I can write off against my tax previously paid the investment I have made into my Ltd company this year?

Many thanks

[AmanSood]

unfortunately not. You can however carry forward your losses and offset against any profits arising in future accounting periods. Good luck!

[AnthonyR]

As Aman said, unfortunately as your company is a separate legal person it's losses are not transferable to you.

There is relief for early years losses for self employment, which can be off set against the previous 3 years income, but this doesn't apply in your circumstances (assuming your sole trade didn't make losses).