Property Losses carried forward: Tax Return required??

mitzi01

Hi

Following lots of searching on th internet I have not found a specific answer to my question and would be grateful for your views.

Does a SA tax return need to be submitted to HMRC for BTL property losses to be recorded; and in order for those losses to be used in future years.

The property income levels are deminimis (less than £10k) so if in a profit position I would not submit a return.

Many thanks in advance.

adamski911

Hi,
I was looking for a similar answer if anyone can help?

Thanks

runninglea

Need to fill out a self assessment form - property income.

Need to split between income, expenditure etc

Also is the 10K rental income or income from selling properties

mitzi01

Hi

In response to runninglea, the £10k I quoted is rental income.
I quoted this as HMRC state this as a limit as to whether a full SA return required or not (unfortunately didn't actually receive this amount).

I had wondered if this deminimis (and others) would have a bearing on whether a return for losses was required (i.e ordinarily you wouldn't need to submit a full return)- hence stated.

Obviously there are other criteria which you need to comply with to determine if a SA required.

Thanks