Rental Income: Allowable Expenses

ff861

I've just started to receive Rental Income. My dad has paid for some repairs expenses for the property. I know that repairs expenses on the property are allowable, but was wondering whether they were still allowable if they were paid by someone else.

The property is in my name only and is not jointly owned.

clutton_2

if it was not your money that paid - then you cannot claim them......

chewmylegoff

ff861 wrote: »

I've just started to receive Rental Income. My dad has paid for some repairs expenses for the property. I know that repairs expenses on the property are allowable, but was wondering whether they were still allowable if they were paid by someone else.

The property is in my name only and is not jointly owned.

i suppose you could treat the amount your dad paid as a loan to you, and then offset the expenses against tax as long as they are like for like repairs and not improvements.

however, if you have no intention of repaying the loan it would likely be classified as tax evasion if ever examined.

mlz1413

have a look at this website for basis advice:

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_10013435