Using Loss Brought Forward on SA Return

When using loss brought forward showing as WARNING

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Client has small self employment profit of £5973.  He has £99,574 of losses broght forward (showing on previous SA return to carry forward).  When we enter £5973 in the box Loss Brought Forward From Previous Years set-off against 2023-24 profits - it flags up as a WARNING and then the full £5973 shows as profit in the tax calc. Anyone any ideas? TIA

Replies (6)

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By Dougscott
20th May 2024 11:30

What happens if you put the full amount of the loss brought forward in the box?

Or sometimes just re-entering the same figure again will get rid of the warning?

Thanks (1)
By victoriarchalmers
20th May 2024 11:45

It then says the "Loss Brought forward from earlier years set of against 23/24 profits cannot exceed the amount entered for 'Net Business Profit for tax purposes'"

Aaargh !

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Replying to victoriarchalmers:
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By tom123
20th May 2024 12:21

Which of course makes sense - you cannot "use up" any more of the loss than you need to negate the profits.

Thanks (1)
By Cat's whiskers
20th May 2024 12:24

Not sure what software you are using but do you have a figure for the total losses brought forward as well as the losses brought forward and used in the year?

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By Ardeninian
20th May 2024 12:26

You should be able ignore the warning and complete with it present. The full profit will show in the calculation but the loss is shown separately as "Income tax relief".

Thanks (3)
Replying to Ardeninian:
By victoriarchalmers
20th May 2024 12:48

This is now happening. HMRC asked me to log out & back in & erase all cookies etc etc & seemed to fix it!!! Thank you all

Thanks (1)