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Where Taxpayers and Advisers Meet

Total Loss to Carry Forward Help

Tom2247
Posts:3
Joined:Wed Dec 15, 2021 11:09 pm
Total Loss to Carry Forward Help

Postby Tom2247 » Wed Dec 15, 2021 11:22 pm

Hello,

I'm currently trying to fill in my 3rd Self Assessment tax return and getting a bit stuck on the losses carried forward section.

1st year £5448 loss (buying stock)

2nd year £968 profit, used past years losses to offset (£4480 loss unused)

3rd year I have now got £1731 profit, under the "Loss brought forward from earlier years set-off against 2020-21 profits" question I entered the full £1731 but now on the next page is has a question saying "Total loss to carry forward after all other set-offs including unused losses brought forward".

So my question is, do I put the full £4480 I had left unused after last year, or now it is only £2749 after I used some on the previous page?

It may be a stupid question but I don't want to get it wrong.

Any help would be greatly appreciated.
Thanks

pawncob
Posts:5099
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Total Loss to Carry Forward Help

Postby pawncob » Thu Dec 16, 2021 10:39 am

It's the lower amount.
With a pinch of salt take what I say, but don't exceed your RDA


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