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Sam, Accountant
Category: Tax
Satisfied Customers: 7508
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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i have a client who has profits on rental income, but

Customer Question

Hello i have a client who has profits on rental income, but also has losses brought forward which are greater than this year's profit. This is the client's only income. Can I restrict the amount of brought forward losses utilised, so that the client can take advantage of her personal allowance against the income. Or do I have to offset the loss brought forward against the entire profit, leaving income of zero and the loss of the personal allowance?
Submitted: 3 years ago.
Category: Tax
Expert: replied 3 years ago.
Hello and welcome to the site. Thank you for your question.

I have already answered this question.. follow the link

many thanks