Loss carried forward
T.C.
Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙♂️
I have a new client who had a loss in the year 08/09 which was not entered in the 09/10 Tax Return as a brought forward loss (her profit in that year was only £1K). Can I just bring it forward from the 08/09 return onto the 10/11 return, so long as I take off the 09/10 profit figure? Does that make sense? Do I need to notify HMRC do you think, or just do it? It is correct, but would just show that the 09/10 had an error on it (in theory).
Opinions welcome. Thanks.
Opinions welcome. Thanks.
0
Comments
-
I would maybe just include a note in the white space to explain what's happened0
-
Good answer....thanks.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 324 NEW! Qualifications 2022
- 160 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 94 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 273 VAT
- 92 Software
- 274 Tax
- 138 Bookkeeping
- 7.2K General accounting discussion
- 201 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership