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Singing Pig » General » Accounting & Bookkeeping » Re: Lettings loss - Capital gain

    

Lettings loss - Capital gain

Last post 20 Aug 2008, 2:06 PM by James Smith. 1 replies.
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  •  15 Aug 2008, 4:34 PM 559365

    Lettings loss - Capital gain

    Advice would be appreciated. Due to some properties being on market without tenants (no income), I have a net loss for income in 07-08. However having sold properties I have a Capital gain. Can I offset my property income loss amount against taxable amount for CGT before calculating total due to HMRC? 
    ben lomond

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  •  20 Aug 2008, 2:06 PM 562271 in reply to 559365

    Re: Lettings loss - Capital gain

    Afraid not although no doubt there are legitimate things you can reduce the CGT on the property you have sold although not as many as before you sell which obviously gives my profession a lot more scope to reduce your bill

     Regards,
     

    James Smith
    Chartered Accountant
    jamesesmith.co.uk
    01235 536 773

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