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A newbie landlord tax relief question, advice please
BurnleyBob
Posts: 368 Forumite
From the middle of next month I will be renting my former home out at £160 a week (£8,320 per annum) and by the end of the current tax year next April will have received circa £3,200 in rental income.
I'm pretty sure from reading elsewhere that replacing the single-glazed windows with double-glazed ones would be a permitted non-taxable expense. Replacing them will cost £10K.
I'd want to have them all replaced soon after the tenants are in situ because 1, two are in a particularly bad way and 2, some forecasters predict a pretty brutal winter. But I'll delay doing so (and risk them getting frostbite) until beyond next April unless I'm sure that most of that tax relief on rental profit can be forwarded to the 2013-2014's return.
Can some kind soul(s) reassure me that it would be possible to do so?
I'm pretty sure from reading elsewhere that replacing the single-glazed windows with double-glazed ones would be a permitted non-taxable expense. Replacing them will cost £10K.
I'd want to have them all replaced soon after the tenants are in situ because 1, two are in a particularly bad way and 2, some forecasters predict a pretty brutal winter. But I'll delay doing so (and risk them getting frostbite) until beyond next April unless I'm sure that most of that tax relief on rental profit can be forwarded to the 2013-2014's return.
Can some kind soul(s) reassure me that it would be possible to do so?
0
Comments
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Loss can be carried forward to future tax year(s).0
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http://www.hmrc.gov.uk/manuals/pimmanual/
Your house is your tenants home and they have exclusive use of it. A landlord does not have the right to enter it without written notice and even then the tenant(s) can refuse access.Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
Thank you both for your replies.0
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