There are a number of tax reliefs available for self-employed taxpayers that make a trading loss. This includes a partners' share of partnership trading losses.
There may also be restrictions if the claimant:
There is also an overall cap on certain income tax reliefs. The cap is set at 25% of income or £50,000, whichever is the greater. There is a separate type of loss relief available for those operating under the cash basis. No loss relief is available if the trade is not run commercially and for profit, for example if a trade is run as a hobby.