Yes, investment property losses in the UK can generally be carried forward to offset future taxable income. This means that if you incur a loss on your investment property in one year, you may be able to use that loss to offset income that you earn in a future tax year.
To carry forward a loss from an investment property in the UK, you must meet the following criteria:
- The property must be used in your business or held for the production of income.
- The loss must be a deductible loss, such as a loss from the sale of the property or a loss from a casualty or theft.
- The loss must exceed any applicable limitations or thresholds.
If you meet these criteria, you can carry forward the loss by reporting it on your tax return in the year that it occurs. You can then claim the loss on your tax return in a future year to offset any taxable income that you earn in that year. It's important to keep in mind that there may be limits on how much loss you can carry forward in a given year, and you may be required to follow certain rules and procedures when claiming a carried-forward loss. It's a good idea to consult with a tax professional or refer to HM Revenue and Customs (HMRC) guidelines for more information on carrying forward investment property losses in the UK.