Personal Tax: Property Loss and claim Private residence relief?

Article ID

personal-tax-property-loss-and-claim-private-residence-relief

Article Name

Created Date

24th September 2021

Product

Problem

Personal Tax: You have a Property Loss and need to claim Private residence relief

Resolution

HMRC Restriction – You cannot claim a relief against a loss.

Workaround – Adjust the disposal amount to obtain the correct loss figure. Then make a note to explain this further about the period covered by Principal Private Residence into box 37 on page CG 2 of the tax return.

To make this note, go to the Capital Assets main window | Edit | Losses & Other Information | Tick the Additional Information box and make the note here

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