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Self Assessment - using the information boxes
Kynthia
Posts: 5,692 Forumite
in Cutting tax
I let a property and made quite a big loss in the 2011/12 tax year. This is because I had a tenant do a bunk while in the middle of the fixed term whilst I was in the middle of a busy time in my life. Therefore I left the property vacant for a little while, considered selling it, then had some refurb work done before trying to relet. It then took a while to find tenant and once they moved in they stopped paying rent after a couple of months.
Now I doubt I'm high on the HMRC's radar with just one rental property but I do wonder whether such a big loss after making a profit the year before will flag up. Should I mention any of the above in one of the boxes for further information, or does using these boxes draw more attention to you?
Now I doubt I'm high on the HMRC's radar with just one rental property but I do wonder whether such a big loss after making a profit the year before will flag up. Should I mention any of the above in one of the boxes for further information, or does using these boxes draw more attention to you?
Don't listen to me, I'm no expert!
0
Comments
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Definitely not advisable - unless you really want it to be flagged up.0
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