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Rental loss for 2007 if didn't file 07 tax return yet

  • 28-10-2009 1:22pm
    #1
    ck_303
    Registered Users, Registered Users 2 Posts: 28 ✭


    Wondering if anybody would be kind enough to give me a steer on this.

    I started renting an apartment in June 07. I only got half a year's rental income so when I subtract the mortgage interest, service charge etc I made a loss for the year.

    However I didn't file a tax return for 2007 yet- planning on filing it now along with my 2008 tax return.

    Does this failure to file the 2007 return on time mean I can't claim the 2007 loss now against my net 2008 rental income from the property?

    The lettings have all been registered with the PRTB.

    Any help at all would be gratefully received- feeling very stupid now that I didn't get an accountant to do the returns for me :(

    cheers


Comments

  • #2
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    No

    And as this is your second years return you wont be surcharged for you late return for 2007

    dbran


  • #3
    ck_303
    Registered Users, Registered Users 2 Posts: 28 ✭ck_303


    Thanks for that.

    I'm confused because an accountant in the Irish Property Owners Association newsletter, September 2009, stated "you must file a tax return for each year of rental loss; otherwise the right to offset against future rental gains is lost"

    I came across this advice somewhere else on the the net but can't find it at the moment.:(


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