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Property losses - offset against other income

Article ID
ias-12033
Article Name
Property losses - offset against other income
Created Date
13th October 2015
Product
IRIS Personal Tax
Problem
There is a box to offset losses from a UK propety against other income, why is the figure in this box being ignored?
Resolution
Property losses cannot be offset against other income unless the losses have been created by capital allowances. Property losses can only be offset against other income PRE 2012. If the losses are not as a result of capital allowances or from a FHL the system will ignore the request and carry forward the losses to the following year.

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