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Are empty property costs tax deductable?

CrowdFunded
CrowdFunded Posts: 9 Forumite
First Anniversary First Post
in House buying, renting & selling
Hi,

I just sold a rental property and I am not a company just an individual.

After my tenant moved out, and before the sale, the property was empty which incurred costs:

Council tax
Water rates
Electricity
Service charge
Ground rent

Can these be listed as tax deductable?

I have searched the IR website and the internet, but can't find any info on this.

Any info or links would be appreciated thanks.

Comments

  • anselld
    anselld Posts: 8,769 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 4 January 2024 at 7:35PM
    Yes, provided it was immediately marketed and sold at the end of tenancy and there was no other private use prior to completion of sale.
    It can only be deductable against other property income in the same or future years.
  • 35har1old
    35har1old Posts: 2,253 Forumite
    1,000 Posts Third Anniversary Name Dropper
    edited 4 January 2024 at 9:18PM
    anselld said:
    Yes, provided it was immediately marketed and sold at the end of tenancy and there was no other private use prior to completion of sale.
    It can only be deductable against other property income in the same or future years.
    So not CGT then.?
  • anselld
    anselld Posts: 8,769 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    35har1old said:
    anselld said:
    Yes, provided it was immediately marketed and sold at the end of tenancy and there was no other private use prior to completion of sale.
    It can only be deductable against other property income in the same or future years.
    So not CGT then.?
    Not for the items mentioned.  Other items such as buying and selling costs would be deductible against CGT.
  • CrowdFunded
    CrowdFunded Posts: 9 Forumite
    First Anniversary First Post
    anselld said:
    Yes, provided it was immediately marketed and sold at the end of tenancy and there was no other private use prior to completion of sale.
    It can only be deductable against other property income in the same or future years.

    This is the case.  When you say property income, do you mean rental income or gains from sale of the property, or both?
  • 35har1old
    35har1old Posts: 2,253 Forumite
    1,000 Posts Third Anniversary Name Dropper
    CrowdFunded said:
    Hi,

    I just sold a rental property and I am not a company just an individual.

    After my tenant moved out, and before the sale, the property was empty which incurred costs:

    Council tax
    Water rates
    Electricity
    Service charge
    Ground rent

    Can these be listed as tax deductable?

    I have searched the IR website and the internet, but can't find any info on this.

    Any info or links would be appreciated thanks.
    If CGT is involved you only have 60 days from completion to submit your return 
  • anselld
    anselld Posts: 8,769 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    CrowdFunded said:
    anselld said:
    Yes, provided it was immediately marketed and sold at the end of tenancy and there was no other private use prior to completion of sale.
    It can only be deductable against other property income in the same or future years.

    This is the case.  When you say property income, do you mean rental income or gains from sale of the property, or both?
    For the items listed I mean rental income since they are all income related expenses, not capital.
  • CrowdFunded
    CrowdFunded Posts: 9 Forumite
    First Anniversary First Post
    anselld said:
    CrowdFunded said:
    anselld said:
    Yes, provided it was immediately marketed and sold at the end of tenancy and there was no other private use prior to completion of sale.
    It can only be deductable against other property income in the same or future years.

    This is the case.  When you say property income, do you mean rental income or gains from sale of the property, or both?
    For the items listed I mean rental income since they are all income related expenses, not capital.

    I see thanks
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