Back
Let us sort your Self Assessment today. Stress-free. For £119, all in. Learn more

Offsetting

Offsetting means balancing money that you are owed with money that you owe.

When it comes to tax, it can mean a few things:

  • subtracting a capital loss from a capital gain and paying less tax. For example, you had two shares, sold one for profit and one for a loss: you only pay Capital Gains Tax on the difference
  • same for rental income if you have multiple properties
  • you can also offset profits this year by bringing forward losses from the previous year – but only for the same type of income.

More guides & useful information

Let us sort your Self Assessment online. £119, all in.

That’s right. No matter how complicated it gets or why you need to do a return in the first place, it’ll cost £119 to get it done. That includes VAT, last-minute changes and all the support you may need.

How it works

1. Answer a few simple questions

And we mean a few. After a couple of minutes of answering questions online we’ll have everything we need to start working on your tax return.

2. Then get paired with a tax accountant

That’s right, you’ll be matched with a real accountant who is best suited to prepare your return. Plus, they’re on hand for questions whenever you need.

3. We file your Self Assessment for you

Once you’ve signed off your return, your TaxScouts accountant will file your return online with HMRC. That’s it! We told you it was simple.