renting an house and tax

een705

Hi all I have looked at the gov site but still not clear. I bought a house to rent it I thought it would need just a paint and a few other jobs. It needed a new kitchen roof and a full rewire and one job led to another I ended up every room needed decorating and carpeting. I spent around £6000 to get it back to a rent-able state.
Can someone explain how or if I can claim tax allowance on the above work.
It is currently rented out with an agency.
Thanks een

pinklady21

Probably it is capital expenditure and you will have to wait until you sell it and use the expenses against any capital gain. So make sure you keep all receipts safe.
You probably can't use it as expenses against income, as you had not started your letting business before you incurred the expenses.
Unless you already have a letting property?
You may also get advice over on the Cutting Tax board.

00ec25

there is a grey area between revenue costs that can be claimed before the letting business started on the basis they would be allowable were the business already underway and capital costs which must be claimed against the CGT on sale

capital costs in that context refer to works associated with a property which was not in a fit state to be let and therefore required considerable expenditure before it could be let.

your description tends to suggest they are capital works