Loss on Disposal of Investment Property

Loss on Disposal of Investment Property

Didn't find your answer?

I have a client who has disposed of a property that they have previously rented. The property was sold for £20,000 which is an £8,000 loss as it was originally purchased for £28,000. My question is, can this loss be claimed to offset the rental income from other properties? I can't work out if it's supposed to be in the capital gains section on disposal of chargeable assets?

I don't want to put this in the "wrong place" or claim something which is not allowable, any help would be appreciated.

Thanks in advance.

Replies (1)

Please login or register to join the discussion.

avatar
By ACDWebb
18th Oct 2011 13:41

No it can't be set off; and

yes it is shown on the CGT pages.

The only time it might have been allowable is if the property had been acquired for development so there was a propert development business rather than a letting business as would actually seem to be the case here

Thanks (0)