Furnished Holiday Let 11/12 loss and not renting out 12/13
Hi. does anybody know what happens to the loss made on a FHL if the owner decides not to continue renting the property in 12/13 as they now cannot offset it against their taxed income?
There is a box to tick on the SA software to say ceased income 2012-13, the notes say HMRC are responsible for adjusting your tax code. Does this mean they will offset the loss against taxable income but through the tax code as opposed to a lump sum payment as in pevious years.