UK Property 40 - Important Note - Adjusted Loss

You can only set-off the loss displayed in 'Adjusted loss for the year' against total income if:

• the loss is due to certain agricultural expenses and your property rental business includes land used for agricultural purpose
• the loss arose as a result of claims to capital allowances, and your capital allowances exceed your balancing charges

The loss that may be set-off is limited to the lowest of:

• net capital allowances
• adjusted loss for the year
• the amount of your other income

Enter the amount you wish to set-off together with the amount of any similar loss brought forward from last year.

The amount of tax relief you claim against your income each year is limited to the greater of £50,000 or 25% of your adjusted total income.