Loss carried forward

T.C.
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.

Comments

  • JodieR
    JodieR Registered Posts: 1,002 Beyond epic contributor 🧙‍♂️
    I would maybe just include a note in the white space to explain what's happened
  • T.C.
    T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
    Good answer....thanks.
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