Claiming expenses against tax

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    Claiming expenses against tax

    Hello, in a year when rental income has been down I have spent a considerable amount on repairs etc. Do I have to claim all tax-deductable expenses in the same year or can I defer some to 21/22?

    #2
    You claim them in the year they were incurred and carry forward any loss.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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      #3
      Yes I think you are right, makes sense. I didn't actually make a loss, just not much of a profit.

      Comment


        #4
        Originally posted by Mazza2108 View Post
        Yes I think you are right, makes sense. I didn't actually make a loss, just not much of a profit.
        Yep . . . but I'm thankful that at least I was in profit.

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