Can I offset profit from 2009 to 2010?

safeguard

I made a small profit in 2009 on my rental income. To minimise my tax payments, can I offset this profit on an anticipated loss for the following tax year?

zygurat789

If you could we'd all be doing it.
First, make a loss then it can be dealt with, in the case of rentals either by offset in current year or by carry forward to future years (anticipated) profits. years

Cook_County

Possibly - you are of course preparing accounts on an accruals method, so you may want to check if you could reasonably accrue for some piece of the expenses that give rise to the loss.

You may also want to review whether changing your accounting year-end may give you a better answer.