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(Large) Repair cost for a letting property
Atui
Posts: 23 Forumite
in Cutting tax
hi all,
I am letting a flat, and I just received a section 20 notice from my flat's management company, turned out I will need to pay 6500 pounds towards the repair of the flat building's roof. Is it correct for me to assume this expense can be deducted from rental income please? Sorry if it's an obvious answer but due to the unexpected large amount would be appreciated if I could get a clear answer. thanks a lot.
I am letting a flat, and I just received a section 20 notice from my flat's management company, turned out I will need to pay 6500 pounds towards the repair of the flat building's roof. Is it correct for me to assume this expense can be deducted from rental income please? Sorry if it's an obvious answer but due to the unexpected large amount would be appreciated if I could get a clear answer. thanks a lot.
0
Comments
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a repair is a repair, no matter how small or large it is
https://www.gov.uk/hmrc-internal-manuals/property-income-manual/pim2020
hint: a roof is part of the building, it is not a capital asset on its own. There is a section explaining that in the above link0 -
a repair is a repair, no matter how small or large it is
https://www.gov.uk/hmrc-internal-manuals/property-income-manual/pim2020
hint: a roof is part of the building, it is not a capital asset on its own. There is a section explaining that in the above link
Thanks a lot!0
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