Bowman House (Leaderboard)

Let's Talk

Your Total Guide To Business

Bowman House (Business Sponsor)

I rent out my house and my mortgage interest is bigger than my rental income. Can I claim tax relief on this loss? And do I need to tell HMRC?#AskAMS

It is generally good practice to declare income from property rentals – even if one makes a loss.

Yes, you can claim tax relief on a loss.  But only against other net rental income - either in the same year or carried forward to future years.

I would advise you to notify HMRC that you are renting out your property by requesting a Tax Return.  It will then be the case that any net losses you make are on the record, and can get future tax relief.

There is a web page that gives guidance on who needs to complete a tax return:

AMS Accountancy Swindon and Wiltshire

AMS Accountancy Ltd

AMS Accountants in Swindon provide a complete accountancy service for small businesses in Wiltshire and a monthly accountancy service for contractors throughout the UK.

Delta 606, Welton Road, Swindon, SN5 7XF

AMS Accountancy
Bowman House (Animated Ad)
Green Labyrinth
Anchor Self Storage (Animated Ad)
Black Nova Designs
Future Planning
Fraser Allen Estate Management (Animated Ad)
inSwindon (business section only - promotional space)
GEL Studios
Black Nova Designs (Leaderboard Ad)

Weather in Swindon