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Child Tax Credits and Property Income/Loss

flier
flier Posts: 88 Forumite
Part of the Furniture 10 Posts Combo Breaker
in House buying, renting & selling
Should I be deducting our loss on the year from our other income and using this figure for child tax credits?

Comments

  • poppysarah
    poppysarah Posts: 11,522 Forumite
    Do you declare the asset? Isn't there a bit on the form for that? Give them a ring and ask.
  • flier
    flier Posts: 88 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I don't think there was a place on the form for it, otherwise I would have known to put it ;)
  • mini_cooper
    mini_cooper Posts: 15 Forumite
    flier wrote: »
    Should I be deducting our loss on the year from our other income and using this figure for child tax credits?

    NO, the loss is carried forward to the next financial year and set against income from the same source.
  • poppysarah
    poppysarah Posts: 11,522 Forumite
    There's a bit about money from properties you own but don't live in? I've notot one to hand.

    I'd double check with them though. They should (in theory) tell you the right answer.
This discussion has been closed.
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