Income from UK property
| Field | Description |
|---|---|
| Share of profit or loss from UK property | The partner’s share of profits or losses from UK properties, from box 19 of the partnership statement. This will not include income from furnished holiday lets. |
| Adjustment to income for basis period | Any basis period adjustment required to the property income. |
| Losses brought forward | The total property losses brought forward from previous years. |
| Losses brought forward used | Displays the amount of brought forward losses that can be used against property income. |
| Loss set off against other income |
Any property loss to use against other income for the tax year. From 2014, there is a limit on the amount of income tax relief that an individual may claim for deduction from their total income in a tax year. The limit in each tax year is the greater of £50,000 or 25% of the individual’s adjusted total income — refer to the HMRC helpsheet 204 Limit on Income Tax Reliefs. |
| Loss to carry forward | Displays the total of any unused property losses to be carried forward to future years. |
| Taxable profit | Displays the taxable profit from UK property. |
| Residential finance costs | |
| Residential finance costs brought forward |