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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15976
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I have a rental property which made a loss last year due to

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I have a rental property which made a loss last year due to tenant problems. This year I am back to profit which more than offsets the loss from last year. I know losses can be carried forward to future profitable years, but is it possible to claim 50% of loss this year, and 50% next year? This would help my overall tax situation.

You have to use the rental loss brought forward against the next available rental profit so far as is possible until it is wiped out. You cannot split it in the way you mention so it is possible that you will waste personal allowances I'm afraid

I hope this clarifies your position. Let me know if you have any further questions.
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