SA tax rebate

SA tax rebate

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The person has worked during the tax year 14/15 as Self Employed and Employed. The total earnings were below the personal allowance.

A loss was made on the Self Employment that was carried back to set against profits in box 34 on page SES2 The year to be carried back to 14/15 entered in box 19 on TR7 as requested 

The overpaid PAYE ha been repaid but not the not the carried back loss. Do I have to make any further submissions or am I missing something

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By easthope
02nd Mar 2016 15:24

Sorry the year to be carried back to is 13/14

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By Duggimon
02nd Mar 2016 15:34

You have to put the amount of the tax adjustment due to 2013/14 in the 2014/15 return as well as stating the losses are to be carried back, the adjustment won't happen automatically.

Recalculate the tax for 2013/14, find the difference between what was paid and this new figure and enter that as an adjustment to the tax on the 2014/15 tax return.

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