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Home > Business & Finance > can i claim tax relief if i make a loss ...?

can i claim tax relief if i make a loss ...?

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Sunnysells | 21:28 Fri 12th Jan 2007 | Business & Finance
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Hi,
I own a villa in Spain which I make a loss of about �5k per annum after taking into account rent and expenses.
Can I get relief on this as a 40% tax payer to reduce my tax bill? I am in full time employemt and need to complete a self assesment as | own several UK properties.

Sunny
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Avatar Image kags
Not normally - losses on rental properties overseas are only available to carry forward against future profits from the same source, or against profits from other overseas rentals of the same tax year.
22:16 Fri 12th Jan 2007
Avatar Image Loosehead
And should you make a proft, guess what? that's taxable! Ain't the IR wonderful?!
22:28 Fri 12th Jan 2007

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