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Nursing a loss

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28 July 2009

Issue: 4216 / Categories: Forum & Feedback , Capital Gains , Losses , Only or main residence

Can the loss that has accrued on a flat used as a main residence be crystalised so that it can be set against any future gains?

I was interested in Rufus’s final comment in The dog house column last week. A year or so ago my son bought a flat in the north of England.

I would estimate that he is now nursing a loss in the region of £50 000.

This is not an immediate problem as he has (he hopes) a secure job and has no problem paying the mortgage.

Every weekend he comes home – but why does he bring his dirty washing with him?

He has his own room here and spends the weekend seeing his friends and girlfriend.

She also has a good job and they appear to have a wonderful and prosperous future in front of them.

They are (the flat purchase aside) financially responsible and have both started making investments in the stock market etc.

They plan to get married in a year or two.

I was...

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Nursing a loss

© Copyright LexisNexis 2024. All rights reserved.

28 July 2009

Can the loss that has accrued on a flat used as a main residence be crystalised so that it can be set against any future gains?

I was interested in Rufus’s final comment in The dog house column last week. A year or so ago my son bought a flat in the north of England.

I would estimate that he is now nursing a loss in the region of £50 000.

This is not an immediate problem as he has (he hopes) a secure job and has no problem paying the mortgage.

Every weekend he comes home – but why does he bring his dirty washing with him?

He has his own room here and spends the weekend seeing his friends and girlfriend.

She also has a good job and they appear to have a wonderful and prosperous future in front of them.

They are (the flat purchase aside) financially responsible and have both started making investments in the stock market etc.

They plan to get married in a year or two.

I was...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Subscribe Now...

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.

Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

Issue:

4216

Categories: Forum & Feedback [1] , Capital Gains [2] , Losses [3] , Only or main residence [4]

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