FORM 11 and UK RENTAL INCOME

greeneman

Registered User
Messages
65
I want to include UK rental Income in my Form 11 2009 (I know I am late). I made a profit in 2009.
BUt I have lots of losses in previous years.
There does not appear to be a section for prior year losses in Foreign rents section of FORM 11.

If I post true position for 2009- it is calaculating tax due in 2009 - so I lose the prior year losses relief. It seems to me that I can only make the tax go away by declaring expenses equal to income. But that is is not the true 2009 position.

Under Irish Rental I can show the current yaer loss and also shoe the carry forward losses. But not under foreign rentals. I just want REvenue to know the true cumulative position.

What am I doing wrong ?

If anyone out there can help me I would appreciate it. There must be a lot of UK rental investors with this situation.

Regards

Greeneman
 
Revenue will want to know the history, you should have declared the purchase in the tax year you made it and maybe you have done, either way carry it forward from there, you can put an additional one page sheet with your form 11 showing the history, rent v expenses etc, just sign it off.