Self Assessment - loss

If you completed a self assessment in 2008/2009 and there was a loss on box 76. The loss not used/included either on box 78 or 79(2008/2009). This year there is a profit made, but the profit is less than loss from last year. What could be the best approach in doing this. To make it understandable.,, 2008/2009 loss made of 1800 this year 2009/2010 profit made of 1400. Where can I include the loss from 2008/2009 of £1800 in this year self assessment?
Thanks
Thanks
Comments
If not, then the loss may just be wasted.
Thanks all for your reply, just to add to this if the person is employed with a 40% threshold can I use the loss to offset against his employment income. Otherwise will have to be treated as T.C said which was what i thought, but the only reason I doubted myself was when I did the self assessment in 08/09, the loss was only included on box 76, and did not carried it as loss c/forward on box 78 or 79.
I hope this makes sense.
Thanks
However, you would need to amend the 2008/09 Tax Return to either offset the loss against other income in 2008/09 (box 77) or carry it back and offset against 2007/08 income (box 78).
Also, if you do offset the loss against other income (non-trading) for income tax purposes, remember you still carry the loss forward to offset against future profits for class 4 NIC purposes.
qwerty, Thanks alot for your reply.