Hi.Can you tell me where you went to work and where you lived during that time please. Were you sent abroad by your employer or were you self-employed? Did you pay UK tax during the time you worked offshore? Can you tell me the month in 2000 you bought the property and the month it was first let in 2008? Is the property still let?
Seems I was a bit off... I bought it in Nov 2002 for £87,500 (good Start). I moved to Romania (by my Employeer) in Oct 2008, but the company sorted out the tax equalisation. Also E&Y sorted out my tax returns including the rental income on the Flat. Which I did have to pay for... so I am guessing yes.
I moved back to the UK "Officially" at the end of Aug 2010, although I was actually working in the UK from April full-time. But my contract remained "Overseas Assignment" until Aug.
Since then I have lived with my partner, but I haven't been on the mortgage for the 2 houses we have subsequently lived in.
I have sold the property to another investor still rented. I completed on the property yesterday.
Sure... can you look into whether I can off set anothing from the loss on the flat in terms of the amount invested as well? As at the moment I am unlikely to recoup that amount within the last financial year
OK. When did the letting cease?
It ceased yesterday, as this was when I sold the property with the Tenants still there. passed onto the new investor.