Need help filling in my tax return...

(2 Posts)
Xenia Wed 08-May-13 11:12:45

If we are assuming you made a loss of £30 then.....

"Have you made any income tax losses in the year 2012-13?" YES

"If you disposed of any chargeable assets, or had any chargeable gains, or you wish to claim an allowable loss, or make any other claim or election, do you need to complete the Capital Gains section? Please check help:"
NO. This is if you sell for example a house you let out and pay capital gains tax on it or you sell a valuable painting and make a profit or loss.

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i

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if you click on yes on "Have you made any income tax losses in the year 2012-13?" in the "tailor your return bit" - it brings up this section later in the form:

You have said that you made income tax losses in the tax year 2012-13. Please complete the following questions.

Earlier years' losses (which can be set against certain other income in 2012-13):£ [ I assume you made no losses in earlier years so this is 0

Unused losses carried forward:£ [ 0 ]

Relief now for 2013-14 income, or certain capital losses (Read the notes before completing this question):£

I think this is the £30 (but check the notes) - you might have employment income in £2013 and you can set the £30 loss against it.

Please specify the source of loss in the question above:

Year for which you are claiming relief above: put 2013/14 if you have other income in that year. If you do not then you want to carry the £30 to set against income in future years.

tonyf Thu 02-May-13 17:13:44

i'm doing the "tailor your return bit" on my self assessment - it should in theory be an easy business as i've not made any money for this tax year, though i do have about £30 expenses (just postage, stationery)

what do i click yes or no for these questions? i think (?) i know what to click on all the other boxes in this section.

"Have you made any income tax losses in the year 2012-13?"

"If you disposed of any chargeable assets, or had any chargeable gains, or you wish to claim an allowable loss, or make any other claim or election, do you need to complete the Capital Gains section? Please check help:"

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it is not my first year of being self employed. just a bit hazey about doing the form. have made money in previous years.

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if you click on yes on "Have you made any income tax losses in the year 2012-13?" in the "tailor your return bit" - it brings up this section later in the form:

You have said that you made income tax losses in the tax year 2012-13. Please complete the following questions.

Earlier years' losses (which can be set against certain other income in 2012-13):£

Unused losses carried forward:£

Relief now for 2013-14 income, or certain capital losses (Read the notes before completing this question):£

Please specify the source of loss in the question above:

Year for which you are claiming relief above:

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which all seems quite complicated...

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there's been no money coming in and about thirty pounds have gone out very disposable expenses (to be specific postage, stationary)....

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