Field help: Have you stopped being self-employed and had a capital loss?

Select "yes" if you have stopped being self-employed and have made a loss on disposal as a result.

What is this about?

If you have stopped being self-employed and have made a loss on the sale of business assets (e.g. machinery, land), this is referred to as a capital loss. This loss may be tax deductible under certain conditions.

What is a capital loss?

A capital loss occurs when the sales proceeds of the business assets at the end of self-employment are below the original acquisition or production costs.

When should you provide information here?

• When you have stopped working as a self-employed person.
• If a loss has been made on the sale of business assets.

Where do you get the information from?

You can find the amount of the capital loss in your profit and loss statement or the sales documents that were prepared when the business was closed.