Please could I have some advice re new client previous year tax return

Sarah-Lou

I have a new client this year, self employed plumber - second year in business. Very simple accounts. His wife has a form for student finance that needs to be filled in and she asked if i would have a look at her husband's last year tax return so she knew which figure to put on the form.

Their last accountant didn't add them as his own client, they registered and he logged in, he didn't get them to check or sign anything - he lived upcountry but was recommended to them. Having a look through the business in the first year made a loss of £4020 (have checked their small amount of paperwork and this is correct), the loss was not acknowledged - he had employed income it could have been set again and the box on the tax return wasn't ticked to take forward to the next year.

Is it as simple as entering it as a loss brought forward in the 12/13 tax return?

Thank you

Sarah-lou

peaman

I would amend the 2011/12 return to either offset the losses against the PAYE income (and get a refund) or tick the box to carry forward the losses and enter as a loss b/f on the 2012/13 return.