CGT (loss) on previous residence that was let out

jonny2510

I sold a house that I previously lived in for a few years, and then subsequently let out for 2 years, before selling (within the third year) of moving out.

I made a loss on both the original purchase price of the house (irrelevant ...probably), and an approximate loss of £5K (before solicitors and estate agents fees) on what the house was worth at the time we turned it into a letting 'business'.

Because I sold it within 3 years of moving out, I believe there is Private Residence Relief from CGT....

What I want to know is
1) Because I sold it within 3 years, and am entitled to Private Residence Relief, can I still claim a loss?
2) Is there any point in claiming a loss (if I can), given that:
-- We have no other properties let out
-- I have no other capital gains that I can foresee (in the next 5-10 years at least) anyway
-- The 2012-2013 tax return is likely to be the last I fill in for a few years at least

Also, would a loss carry over automatically (indefinitely) without me filling in a Self Assessment Tax Return each year?

jimmo

No, you can't claim the loss.
http://www.hmrc.gov.uk/manuals/cgmanual/CG65080.htm

jonny2510

jimmo wrote: »

No, you can't claim the loss.
http://www.hmrc.gov.uk/manuals/cgmanual/CG65080.htm

Thanks for the info. It certainly makes things easier when there's no decision to make!!!