Rental Losses - Corporation Tax

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CelticStar
CelticStar Registered Posts: 142 Dedicated contributor 🦉
in AAT Level 4 (Level 8 in Scotland)
Just wondered if someone could reassure me about rental losses as my two textbooks seem to be giving me different information about them.

I understand that rental losses can be deducted from the current year's PCTCT and then any remainder can be carried forward. But when they are carried forward are they only written off against rental profits in that year or against all profits?

Any help gratefully received.
CelticStar :001_smile:

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  • popcornlpw
    popcornlpw Registered Posts: 30 Regular contributor ⭐
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    hi

    I think you can deducte the rental losses in the current PCTCT and PCTCT next year as well

    Only Capital losses are against Capital gain
  • CelticStar
    CelticStar Registered Posts: 142 Dedicated contributor 🦉
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    Thank for replying Popcorn. I know that can't be deducted from future chargeable gains but wondered if they could be deducted from all of the other income or just the property income - to be honest, I'm guessing it is all of the other income excluding CG.

    Thanks again. :001_smile:

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