Foster Carer Loss Self Employed Short Pages SATR

Didn't find your answer?

Hello, I can't find a definitive answer to this on HMRC's help pages:

Foster care receipts are £21k for the 2021-22 tax year. Using the simplified method the qualifying amount of £23k exceeds the income creating a small loss.

Using the self-employed short pages, do I enter £23k as an expense in box 20 or do I restrict it to £21k so there is no profit or loss? Or do I just tick the foster care box 4 and enter no income and no expenses?

I am of the understanding that you can't carry forward a foster care loss unless it is created by cessation or change of accounting period.

Any advice appreciated. thanks 

Replies (2)

Please login or register to join the discussion.

avatar
By Paul Crowley
03rd Aug 2022 16:19

Assumed there is other income or credits for state pension entitlement
Otherwise leave in enough for pension qualification is what I would do

Thanks (1)
avatar
By rmillaree
03rd Aug 2022 17:44

" creating a small loss."
I might be wrong but i am presuming no loss exists

"Using the self-employed short pages, do I enter £23k as an expense in box 20 or do I restrict it to £21k so there is no profit or loss? Or do I just tick the foster care box 4 and enter no income and no expenses?"

Neither - guidance as follows
sens3
https://assets.publishing.service.gov.uk/government/uploads/system/uploa...

Box 4 If you are a foster carer or shared
lives carer
Only put ‘X’ in the box if this applies to you.
If your qualifying amount is more than your
total qualifying care receipts:
• put ‘0’ (zero) in box 31
• do not fill in the rest of form SA103s

Thanks (1)