Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sat, 23 Dec 2023 16:54:50 GMT by soconfused
Hi I acquired a BTL property in 2022/23 tax year and made a loss and also have unused finance costs as I didn't have any other income apart from small dividends and bank interest during the tax year. When completing and submitting SA online, the loss to carry forward is automatically populated in box 43. My questions are: 1, When it comes time to submit the 2023/24 SA return online, will the loss from the previous tax year be automatically offset against 2023/24 year's profit or will I have to do it manually? 2. When submitting the 2023/24 SA return online, will the Unused residential property finance costs brought forward be automatically populated in box 45? Thank you.
Posted Thu, 04 Jan 2024 10:15:35 GMT by HMRC Admin 20
Hi soconfused,
When completing the 2023/2024 Tax Return, the previous years losses would not automatically be carried forward, so a record of any losses from previous years is advised to remain up to date with any available losses until a profit is made.
I would also suggest logging any unused residential property finance costs as the same applies and this needs to inserted manually in box 45 of the SA105 property supplementary page. Thank you.

You must be signed in to post in this forum.