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What expenses can I claim on a new rental inherited property
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Rowland_Blake
Posts: 4 Newbie
HI
I inherited a property, which need work before I could rent it out.
This is what I did to the house
Painted through out
updated fuse box
Replaced very old boiler
new carpets ( property not furnished)
Replaced single sockets with double
replaced temperamental light switches
Can I claim tax back on any of the above?
I inherited a property, which need work before I could rent it out.
This is what I did to the house
Painted through out
updated fuse box
Replaced very old boiler
new carpets ( property not furnished)
Replaced single sockets with double
replaced temperamental light switches
Can I claim tax back on any of the above?
0
Comments
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done any research of your own yet on how to be a LL and how to deal with tax? Understand the difference between repairs and capital yet?Rowland_Blake wrote: »HI
I inherited a property, which need work before I could rent it out.
This is what I did to the house
Painted through out
updated fuse box
Replaced very old boiler
new carpets ( property not furnished)
Replaced single sockets with double
replaced temperamental light switches
Can I claim tax back on any of the above?
https://www.gov.uk/guidance/income-tax-when-you-rent-out-a-property-working-out-your-rental-income
http://www.accountancy.coop/downloads/helpsheet-LaP-Improve-or-Repair.html
https://www.gov.uk/hmrc-internal-manuals/property-income-manual/pim20200 -
It's for next tax year, but trying to work out if I can claim for work done before renting out the property. Any views gratefully recieved0
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Ok I will spoon feed you one more timeRowland_Blake wrote: »It's for next tax year, but trying to work out if I can claim for work done before renting out the property. Any views gratefully recieved
https://www.gov.uk/hmrc-internal-manuals/property-income-manual/pim2505
https://www.gov.uk/hmrc-internal-manuals/property-income-manual0 -
Lots of info available on the internet to help you start your business.
This post has a bunch of (hopefully) helpful links for you too:
* New landlords: advice, information & links0 -
Did you inherit it with tenants already there? If so when did they 1st move in?0
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New tentants, the house was my father in laws. Was rented a couple months after probate0
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