BTL losses brought forward and set off?Make Text Bigger
I have been submitting my self assessment tax return for the past 12 years, however for 2016_17 which I am attempting to submit now I am coming across something that doesn’t seem to be right.
For the past 6 years my small portfolio of 4 flats has made a small profit, but the prior 6 years it made significant losses, so I have always been able to offset the profit against the previous losses. There is still a net loss over the 12 years.
However when completing the tax return (using the HR Revenue & Customers online service) when I try to add the “loss brought forward used against this year’s profit” I get an error message to say “loss brought forward used against this years profit must not exceed “adjusted profit for the year, please amend.
Usually the previous years losses have been reduced by the profits I am now making, but for some reason I am not allowed to do this now?
Would you know why this is?
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