can you put previous years losses on your next SA?

jackson43_2

When you fill a SA you are asked what losses to bring forward on a property you rent out.
If you made a loss in your first year and were unaware you had to declare this until you made a profit the second year,(and so didn't fill in a SA for the loss year) what would the reaction of hmrc be if you then filled the losses box in?My cousin didn't mention losses in her first year but can prove she did. I know you can contact HMRC to sort this, but if she didn't is there anything to stop her just filling in the loss brought forward box on the next SA she does?

jimmo

If your cousin actually completed an S A Return for the previous year then she really should have declared her loss in the relevant Return and if that previous year was for 2011/12 she still has plenty of time to amend her Return.

http://www.hmrc.gov.uk/sa/correct-repay.htm

If she didn’t actually complete an S A Return for the previous year it is perfectly acceptable for her to write to HMRC to claim her lettings loss.