Topic: Any way to offset losses against UK tax?

[wotnot]

I suspect the answer to this will be 'no', but worth asking the question:

It occurred to me that it might be possible to offset losses on Bulgarian Dreams 'property' (or 'would-be property that nobody actually got around to building') against tax liability for UK property income.  Having had a look at the appropriate tax return guidance notes, nothing jumps out as being applicable.  I doubt that it is possible, since the losses were made on non-UK property...

[genekkk]

you can a offset capital loss against capital gains from same overeseas territory .    and only when REALISED ...ie actually sold or disposed of.

[wotnot]

Mmm.  Unlikely to help in my case but then that's what I thought.  Thanks for the response.

[dario]

Agree with Gene, must be realised. But then that should be off-settable against capital gains.

[mike]

Surely "realised and "written off" are the same thing for Tax. It would be the case for a LTD company doing a tax return right? So why not for a personal return?

[dario]

Not if you still own the asset, I would have thought.