query about losses

[ocean25]

Hi Guys

i am currently on tier1 G my initial application was approved on 30th march 2011, then i went on PEO 15th March 2013 but officer asked for additional documents like previous tax returns and business contracts etc. i provide all doc and then my extension get approved.

On my initial visa , I showed my income through (self employment + salary)

Extension ( Director of limited company + salary)

my Total tax was about £8500 and i filed SA for year 2011, exact the same income which i showed to HO, next year 2012 my expenses were very higher than my tacking then i carried back loses to previous year and HM wave of about £4000.

on my time of extension i filed CT600 and paid all outstanding tax for the year of 2013. now my question is as i am going to apply for ILR in March 2016, do i need to amend tax return of the year of 2012 or should i leave it like that. please share your experience

thanks

[muraxza]

being an accountant I wondering of this new terminology carried back losses so far as I know you can only carry forward loses to your subsequent returns so you can claim tax relief for subsequent years.

yes this would be better if you amend this asap but bear this in mind your case may go into the enquiry cause of your amendments which result waving of tax

[ocean25]

being an accountant I wondering of this new terminology carried back losses so far as I know you can only carry forward loses to your subsequent returns so you can claim tax relief for subsequent years.

yes this would be better if you amend this asap but bear this in mind your case may go into the enquiry cause of your amendments which result waving of tax

thanks Blocked Username for your quick response, yea you can carry back the losses, i know, now a days HM are very busy to amend the return, but the years on which i get visa and extension their SA and SA302 are the same income which i submit to HO.

HO dont want to make us show income threshold for every year.

[muraxza]

HO only concern about for those in which you claim your visa so if you 10/11 SA shows exact amount then you would be fine for 11/12 you don't need to worry about in case if you didn't show any income from this year