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can i claim this

I was a self employed person with a ten year leased property. I retired and passed on my business to my son who incorporated. The business premises were leased and I had a personal gaurantee thereon. The Ltd Co ceased by insolvency and i was forced to pay the rent arrears of £10k. can i ofset this payment against my pension income.

Any help would be very grateful

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At what point

in year terms did you cease trading and the liability came back to bite you?

might be worth looking if the liability could be off-set against earlier years.

But if you have only a pension income, you would not be able to offset the lease against it.

Has the property been re-leased? if yes, then your liability will cease during the period of occupation. your liability will also cease if the new tenant has signed a new lease and not just taken over the element that you originally signed for.

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