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Where Taxpayers and Advisers Meet

Box 43. Loss to Carry Forward.... on self assessment form

cook1
Posts:17
Joined:Wed Aug 06, 2008 3:30 pm
Box 43. Loss to Carry Forward.... on self assessment form

Postby cook1 » Thu Jan 18, 2018 9:37 pm

Good evening
Thank you for taking the time to read my question.
I have 1 BTL property which does not generate a huge income.
For the year 2015/16 tax return, I had to replace the driveway as it had finally become worn out and dangerous, with holes beginning to appear. It was replaced like for like and was not assessed as repairable by 2 builders as it is concrete.
I contacted Inland Revenue, who advise to place the total repair cost in the property repairs and maintenance section.
I may have have made a mistake, but that is what I did.
This resulted in my expenses exceeding my rental income.
The carry forward was £1,362 as on my tax summary is detailed in box 43 of that return.

Forever behind, I am just completing this years return.
May I ask if that amount can be offset against the 2016/17 tax year.
If so where would I input that figure?
Many thanks

cook1
Posts:17
Joined:Wed Aug 06, 2008 3:30 pm

Re: Box 43. Loss to Carry Forward.... on self assessment form

Postby cook1 » Sat Jan 20, 2018 1:41 pm

My question is probably not clear. As I cannot delete post, I’ll contact Inland Rev for clarification.
Thank you.

bd6759
Posts:4270
Joined:Sat Feb 01, 2014 3:26 pm

Re: Box 43. Loss to Carry Forward.... on self assessment form

Postby bd6759 » Sat Jan 20, 2018 5:40 pm

Your question is perfectly clear.

The loss brought forward goes in box 39 and is deducted from your profits.

cook1
Posts:17
Joined:Wed Aug 06, 2008 3:30 pm

Re: Box 43. Loss to Carry Forward.... on self assessment form

Postby cook1 » Wed Jan 24, 2018 10:05 pm

That is very kind of you to reply.
Thank you for clarifying.


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