For how long can a financial loss be carried forward on a tax return?
I have been self employed since 2009.
My 2009/10 Tax Return showed a loss of £5,000 and in 2010/11 I made a a small loss of £2,000.
My 2011/12 accounts are showing a profit of £8,000.
Can I offset the previous losses against the profit I have made in the current year?Report