UK Tax
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10/13/2011
Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 16,712
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
VerifiedHi.
You can claim for pre-letting expenses such as the boiler repair costs, the gas safety check cost and the re-decoration costs as these were incurred in order to get the property into a fit state to let. You can also claim for any costs incurred in advertising the property in local newspapers or on shop advert boards. You cannot claim for the council tax or electricity as that would have been payable regardless of whether you intended to let the property or not.
Take a look here for information on other expenditure you can claim a deduction for on an ongoing basis.
Let me know if you have any queries.
You can claim for pre-letting expenses such as the boiler repair costs, the gas safety check cost and the re-decoration costs as these were incurred in order to get the property into a fit state to let. You can also claim for any costs incurred in advertising the property in local newspapers or on shop advert boards. You cannot claim for the council tax or electricity as that would have been payable regardless of whether you intended to let the property or not.
Take a look here for information on other expenditure you can claim a deduction for on an ongoing basis.
Let me know if you have any queries.
Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 16,712
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
VerifiedTony Tax and 87 other UK Tax Specialists are ready to help you
As long as the home agreement costs are for the specific property, you can claim them against the rental income. If you pay them annually and you paid them before the letting commenced, you can only claim the proportion that relates to the period after the letting commenced to the following 5 April. The balance will fall into the next tax year. The same applies to the home insurance.
Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 16,712
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
VerifiedTony Tax and 87 other UK Tax Specialists are ready to help you
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