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BTL expenses tax question
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read the links already givenitwasntme001 said:If I need to pay out for repairs to damage caused by a tenant and these repairs occur soon after the tenancy ends (and that is the last tenancy and thus the BTL business ends), can I expense that against my income so tax deductible, whether or not I can deduct the amount for the repairs from the tenants' deposit?0 -
Any expense after the btl business has ceased are not part of the btl business so cannot be claimed for.itwasntme001 said:If I need to pay out for repairs to damage caused by a tenant and these repairs occur soon after the tenancy ends (and that is the last tenancy and thus the BTL business ends), can I expense that against my income so tax deductible, whether or not I can deduct the amount for the repairs from the tenants' deposit?You are not refreshing the property for a tenant to live in so it is not a business expense, no matter how many times or in how many ways you ask the same question.0 -
sheramber said:
Any expense after the btl business has ceased are not part of the btl business so cannot be claimed for.itwasntme001 said:If I need to pay out for repairs to damage caused by a tenant and these repairs occur soon after the tenancy ends (and that is the last tenancy and thus the BTL business ends), can I expense that against my income so tax deductible, whether or not I can deduct the amount for the repairs from the tenants' deposit?You are not refreshing the property for a tenant to live in so it is not a business expense, no matter how many times or in how many ways you ask the same question.From the PIM .. "Where a property business consists of letting property it will normally cease when the customer disposes of the last of the properties they are renting out or, alternatively, they begin to use all the properties for a non-business purpose. "If repairs are required as a consequence of letting and to return the property to a normal state prior to selling or re-occupying then the business surely ceases after such repairs.0
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