Home For AAT student members AQ 2013 AAT Level 4 (Level 8 in Scotland)

personal tax - offsetting property losses

phoebephoebe Settling In NicelyRegistered Posts: 17
Personal tax - can property losses be offset against any income during the year or is it just against income from property in future years?


  • simonleesimonlee Just Joined Registered Posts: 3
    hello, the answer to your question, is that the losses can only be off set against future property income gains :001_smile:
  • speegsspeegs Experienced Mentor Registered Posts: 854
    Hi Phoebe

    I hate to contradict Simon, but he is not entirely correct.

    Yes a rental loss can be offset against future rental income, however, if you have more than one rental property and one makes a loss and the other makes a gain, you can net the loss off against the gain from the other property.

    Obviously, if you only have one rental property and that makes a loss then the loss would be carried forward until a gain is made for rental income to offset it against.

    I hope this helps.

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