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Losses on foreign investments - can this be used to offset income?

Answer
Keng Leong
Posted Wed, 06 Nov 2024 12:19:56 GMT by Keng Leong
Hi, I have an investment in a foreign country property. Some expensive repairs had to be done in the year up to 5 Apr 2024. As a result, I have some losses this year. Can this be used to offset my gains and taxes? Thank you.
Answer
HMRC Admin 19 Response
Posted Tue, 12 Nov 2024 09:45:15 GMT by HMRC Admin 19 Response
Hi,
These would only be due if or when the property was sold and were capital costs. They cannot be used against any other source of income.
Thank you.

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