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Telling HMRC about inherited house repairs
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jstiff
Posts: 57 Forumite
in Cutting tax
Hello all
Strange one, if someone has inherited 1/2 a house from family due to death, and as yet the house has not been rented out, but have spent lots of money refurbing getting ready for rental, do HMRC need to know about this if the person is PAYE only?
Appreciate when this is rented an annual tax return will need to be completed.
Is it submitted on a tax return for this year as a loss making year? obviously only 1/2 of costs.
Thanks
Strange one, if someone has inherited 1/2 a house from family due to death, and as yet the house has not been rented out, but have spent lots of money refurbing getting ready for rental, do HMRC need to know about this if the person is PAYE only?
Appreciate when this is rented an annual tax return will need to be completed.
Is it submitted on a tax return for this year as a loss making year? obviously only 1/2 of costs.
Thanks
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