Losses and rental income in different tax years

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    Losses and rental income in different tax years

    I bought a furnished buy to let property in March 2008 and rented out mid April 2008. Clearly I have expenditue/losses (council tax, gas certificate minor repairs etc) in one tax year that I wish to offset against the income I have generated for 2008-2009 tax year. Do I have to declare these losses in my 2007-2008 tax form in order to carry these over or can they just be dealt with when I fill out next years tax form? Any help would be greatly appreciated.

    #2
    This is a tax question and should migrate to the right forum. You can normally carry forward losses from one year to the next if you have not made a profit. Ask HMRC as their advice is free.
    The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

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      #3
      Thanks Paul. Sorry only realised after submitting this that there was a tax forum. Lucie

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