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Posted Thu, 22 Aug 2024 13:35:13 GMT by burger22a Edgar
I am compiling my self assessment online and the mortgage interest value in box 44 is not reflecting on the calculation summary before submitting. I have retraced my entries a number of times but the calculation will not show it. Any reason why this doesn't show? It had done on my previous years summaries.
Posted Thu, 05 Sep 2024 11:04:27 GMT by HMRC Admin 20 Response
Hi,
If you have no tax to pay on any rental profit, no relief will be due.
Thank you.
Posted Fri, 13 Sep 2024 15:30:39 GMT by burger22a Edgar
Oh, In a difficult year where making £5.1K earnings from the property and outlaying £11.3K (5.8 maint etc. and 5.5 mortgage interest) I assume that I cannot use this deficit against my other incomes and tax liability? Seems a bit unfair that if I make a profit and income from the property rent (excluding mortgage interest) it is aligned with my other income, but if i experience a loss there is no reciprocal action.
Posted Fri, 20 Sep 2024 11:41:33 GMT by HMRC Admin 13 Response
Hi burger22a Edgar, Any losses against the property will be carried forward and offset against any future losses for the property. It cannot be offset against other income. Thank you

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