Client has made losses from sole trader activity (arts and crafts type small business making greetings cards at home). Losses now add up to £16k after 4 years although the most recent loss (17/18) was only £380.
Other income from pensions in 17/18 totalled £17,000 so if we opt to offset all the losses then we lose about £10k of losses as the total of trading losses must be used all at once.
Is there anything else that could be done? There are no Capital Gains/Losses and now in year 5 of business so cannot carry back. Client unlikely to cease in next few years so terminal loss relief unlikely, but profits not going to appear any time soon with this type of trade., client advises 18/19 so far is similar to 17/18.
Shall we just accept that some loss relief now is better than hanging on and hoping for a good trading year in 19/20 or beyond?