tax on first rental

Old_Git

I rent out my former principal residence .
Last year was the first time I let it out .
Before I rented it ,I decorated it ,put new flooring in and replaced the boiler ,and shed .
Is any of this tax deductable on a first rental .
It is also furnished ,which I gather is not tax deductable in the first year ,is that correct.Can I claim 10% wear and tear for the first year
I know mortgage interest ,and insurance are tax deductable .

booksurr

google not working?

yes you can claim pre let expenditure
http://www.hmrc.gov.uk/manuals/pimmanual/pim2505.htm

decorating is a repair cost
flooring, boiler and shed are presumably replacing items that were already there on a like for like basis so count as repairs (income tax) not improvements (CGT)
don't forget your legal costs!
https://online.hmrc.gov.uk/information/help?helpcategory=selfAssessmentFiling1112&affinitygroup=individual&helpid=PropertyExpenses

W&T allowance applies only to furnished lets. Plenty on HMRC website explaining what that means and how to claim. Since it is based on net relevant rent then of course it is available in year one
http://www.hmrc.gov.uk/manuals/pimmanual/PIM3205.htm

if you ever decide to re-mortgage remember that the maximum eligible interest cost is the value of the property at the point it was first let - so if it increases in value and you re-mortgage to that value you cannot claim the excess interest if the loan then exceeds the original value
eg 2: http://www.hmrc.gov.uk/manuals/bimmanual/bim45700.htm