Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
Rowan Ferguson needs some advice on whether landlords can roll over losses for tax purposes. Her “Readers Questions” article follows:-
“I Purchased a buy-to-let in October 2012, have incurred £5,00 on expenses, the bulk of which was for necessary repairs and maintenance which has taken 5 months.
From reading the HMRC guidelines I deem these to be repairs and maintenance as opposed to capital improvement so will claim on my tax statement.
The property has been unoccupied during this time.
I have just found my first tenant whose lease starts on 6 April 2013.
Can I carry forward those expenses into the new financial year (2013-14 tax year), as during the current tax year I have not collected any income but have incurred expenses?”
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