Offsetting costs/loses across portfolio

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    Offsetting costs/loses across portfolio

    Hello everyone,

    i am in the process of calculating my tax bill across my portfolio of 4 properties. 3 of which were in profit for the year 2016/17 however 1 in particular made a significant loss of around £3,500 as I was forced to replace the windows and boiler.

    When calculating my profit and loss can I apply this loss of £3,500 across my entire portfolio (which would mean I didn't make a profit last year and therefore my tax bill is zero) or does each property need to be treated separately?

    thanks

    #2
    Across the portfolio.

    Losses can be carried forward to future years.

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      #3
      as boletus says.

      Are you doing self assessment property form?

      Comment


        #4
        Originally posted by tatemono View Post
        as boletus says.

        Are you doing self assessment property form?
        Thanks, yes this is for my self assessment tax return

        Comment


          #5
          OK. Did you notice how Box 1 asks you how many properties you rent out? In other words, the form is intended to be used for the combined income and expenses, etc. for all the properties you have an interest, not one form per property.

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