Hi ,
In 2007 , while I was a PAYE , I set-up a small cpmpany ( sole trader ) for couple of months before I closed it down with some losses . I just filled-up form 11 for 2007 for income tax and submited it to revenue who came back to me with new assesment for income tax for 2007 .
The new assesment doesn't show any looses againist the business , only showing 0 income beside the name of my business + the normal income from PAYE job .
I though the loss would have been considered in some panels in the assesment or maybe to be written-off some taxes I have paid already , well , at least that's what a friend told me when he had his assesment done . Please correct me if I am wrong .
Cheers
In 2007 , while I was a PAYE , I set-up a small cpmpany ( sole trader ) for couple of months before I closed it down with some losses . I just filled-up form 11 for 2007 for income tax and submited it to revenue who came back to me with new assesment for income tax for 2007 .
The new assesment doesn't show any looses againist the business , only showing 0 income beside the name of my business + the normal income from PAYE job .
I though the loss would have been considered in some panels in the assesment or maybe to be written-off some taxes I have paid already , well , at least that's what a friend told me when he had his assesment done . Please correct me if I am wrong .
Cheers