Add Property Income
Within the Property income tab add profit or loss for UK land and property.
Partnership Property Income Tab
To Add Income from UK Land and Property
- Enter the profit or loss in Allocated share of profit or loss.
- In Adjustment to profit or loss add the adjustment to arrive at the profit/ loss for the basis period.
- In Loss brought forward, enter any loss sustained in a previous year that you want to carry forward against later profits.
- Enter a figure in Loss offset against total income to set losses against total income for land used for agricultural purposes or capital allowances.
- Click Saved.
To Add Allowable Loss on Furnished Holiday Lettings
- Enter losses from furnished holiday lettings in Allocated share of loss.
- You set a loss against income received in an earlier year by entering the amount in Offset against other income.
- Enter a figure in Offset against earlier years to claim relief for losses of income for an earlier year.
- You can set a loss against other rental property owned by the partnership by entering the amount in Set against other property income.
- Click Saved.
Note: The value you enter in Set against other property income cannot exceed the figure in Taxable profit.