Selling off property at a loss

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July 15, 2020 at 3:31 am #576835

AverageAndy
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sir a loss incurred in the sale of a property is considered as property loss or capital loss and hence set off against chargeable gains??

July 15, 2020 at 4:31 pm #576903

Tax Tutor
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This is clearly a capital loss as you will have seen in the CGT lectures and notes – the term property loss is meaningless – it could be either the capital loss on the sale of the property or a property income loss where expenses incurred on rental properties exceed property income
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