Business tax | Commentary

B6.607 Losses

Business tax | Commentary

B6.607 Losses

Losses cannot be created under the rent-a-room scheme. Therefore, if an individual has made an actual loss from his rent-a-room letting he can claim the loss either by electing not to have the full relief (where his receipts are less than his individual limit) or by avoiding electing for the alternative method of calculation described above or withdrawing any such election that is already in place (where his rent-a-room amounts exceed his individual limit).

However, any losses carried forward from earlier tax years where the letting was not within the rent-a-room provisions are not wasted. They can be set

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