Huge rental loss previous year; can it be carried over?

[Bel]

A deliapidated property I deal with made a huge rental 'loss' last year to the landlords becasue of extensive repair work. The LL's had to contribute as well as using up all the rent.

Rent - expenses = -£15,000. (LL's contributed £17,000 to repairs)

This year there is a profit, not quite as much as the loss previous year.

Rent - expenses = +£12,000

Will they need to pay any tax this year?

I wont be doing their accounts; I just want to know what will happen.

[TaxationPete]

When did they buy the dilapidated property, when did they refurb it and when was the property let. Regards Peter

[Bel]

Thanks for interest

It was bought over 30 years ago and has been let ever since. Has gradually got into worse condition

[Telometer]

So should be no tax this year if - as seems likely - the expenditure in last year is properly deductible against rental profits, carried forward, and offset in the current year.