Setting a trading loss off against a rental property profit

Setting a trading loss off against a rental...

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Hello I wanted to see if you could set off the loss from self employment against the profit from a rental property? Thanks

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Universe
By SteveOH
16th Jan 2014 22:09

Yes

A trading loss can be set off against rental profits in the same or the preceding tax year. If carried forward, the losses can only be offset against the same trade.

Rental losses can only be carried forward.

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