I've asked this question on another thread & on Dave's suggestion have posted it here in the hope of getting a qualified response.
A taxpayer buys an apartment/flat for investment purposes. This presently produces an annual loss ,meaning that the taxpayer subsidises from his own pocket the interest & levy payments as the rental received presently is inadequate to cover this.
My question is : can the taxpayer offset this loss against his taxable income?? The taxpayer is an individual.