Prior year income under 2.5k with loss - record for next year relief?

Hi, for 22-23, I received just 1 month of rental income less than 2.5k, hence I don't believe I have to submit a self assessment. In 22-23 I also incurred significant costs to prepare property for letting out, meaning I have a loss in 22-23. My expectation is that the 22-23 (prior year loss) can be included in the 23-24 return next year to reduce the overall tax liability (where there will be a profit). Is this correct? And in order for this to recognised, must I complete the 22-23 self assessment anyway? Or can I record this in the 23-24 return? Many thankjs

Hi mrjt,
Please see:
Work out your rental income when you let property
If HMRC has asked you to send a return for 2022-23 then you should declare your loss in the return and show that you wish to carry this loss forward.
Thank you. 
 

Hi - thank you for the reply. When I go to submit a return for 2022-23, and I state that my rental income is less than 2.5k, the system says I don't need to fill in a return. Hence my question, if HMRC has not "asked me to send a return" as you put it, in order to carry forward the loss to a future return, must I complete the 2022-23 return anyway? Or can I provide information about the loss in the 2023-24 return next year?

Hi,

You dont need to do the return if you have no other self assessment criteria. However, you do need to let HMRC know of the rental income received and any expenses for the 2022 to 2023 year so that any loss is recorded. This should be done in writing so that the loss is known before you submit the 2023 to 2024 return after April 24.

Thank you.