Displays the calculation of Net business profit/(loss) taking into account any values entered in the Basis period adjustments section.
Allowable loss for period
Loss to offset against other income for year
Loss against earlier years
Losses brought forward from earlier years
The carried forward loss from the previous tax year when the new years’ tax return is created. This amount can be overwritten if required.
Brought forward losses used against transitional profits
The amount of loss that is being used to reduce this year’s transitional profit taxable. Losses brought forward must be used to offset losses in the earliest year possible.
Brought forward loss used against profits
The amount of loss that is being used to reduce this year’s adjusted profit. Losses brought forward must be used to offset losses in the earliest year possible.
Taxable profit after losses
Displays the profit after considering any losses brought forward and used against the profit of the current tax year.
Total loss to carry forward
Displays the total loss to carry forward into the next year's return.
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