It's that time of year again, but hopefully a quick and easy problem to solve.
Without giving exact figures. I have adjusted property income of X for tax year ending 2018. I have carried forward losses from previous years of Y. Y exceeds X.
If I put the respective X and Y in their appropriate boxes on the online self assessment page I log into at HMRC to submit my return I get an error message (Loss brought forward must not exceed...).
I can amend the Loss brought forward figure I use such that Y=X to get rid of the error, however that then produces an amount in the "Loss to carry forward..." of zero rather than the actual amount of Y-X.
Hope that is clear? Any Ideas?
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Self Assessment - Property Income Section
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- Lemon Half
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- Lemon Half
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- Joined: November 21st, 2016, 4:26 pm
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- Been thanked: 2344 times
Re: Self Assessment - Property Income Section
Poor form to answer your own query I guess but I am informed you do only enter the smaller amount (and eliminate the error) and then ignore the incorrect figure of £0 to carry forward to future years. By putting the (new) correct figure in the "additional information" box this (apparently) alerts HMRC that the £0 generated is wrong and will be ignored going forward. We will see.
Seems a strange way to go about it, and didn't happen in previous years. I'm guessing this is a coding error and a work around rather than this way by design.
Seems a strange way to go about it, and didn't happen in previous years. I'm guessing this is a coding error and a work around rather than this way by design.
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