Our subscriber is preparing accounts for the first year of his property rental business during which he spent a lot of money getting the properties ready for letting. His question is how much of the
expenditure is tax deductible?
Published 31.05.2022
In late 2023 HMRC wrote to landlords suggesting they may have claimed tax relief they weren’t entitled to. It now accepts it was wrong. What’s the full story?
Published 03.04.2024
Since April 2016 residential landlords have been entitled to a new tax deduction when they buy domestic items for their properties. It has a wider effect than the wear and tear allowance it replaces,
but will it make you better off?
Published 09.06.2016
A change to the rules in 2008 led to a rash of claims for tax deductions on capital expenses against residential property rental income. The Taxman has now put a block on these. What’s changed and
what’s left that you can claim for?
Published 26.11.2010
You’re intending to spend a substantial amount on refurbishing a residential let property whose kitchen is badly in need of modernisation. Can you claim this expense as a tax deduction against rental
income from the property?
Published 19.05.2005
The Taxman allows you to deduct expenses from property rental income like any other business. But some costs are easy to overlook, such as travel expenses. What can you claim for?
Published 28.06.2011
Your company bought, refurbished and furnished two residential properties which have been let. You’re now preparing the first rental income accounts. Which refurbishment and start-up costs can you
claim a tax deduction for?
Published 31.10.2022
A buy-to-let business can’t usually reclaim VAT on its expenses. Transferring it to your company could allow it to do so. It might also offer an opportunity for a tax-free lump sum. How can you take
advantage?
Published 21.01.2015
Your rental property was vacant after the last tenant moved out. After a while you let your son move in as a temporary measure. How much, if any, of the running expenses must you disallow for tax
purposes to account for personal use?
Published 22.01.2013
Very often, property owners have more costs (loan interest etc.) than they have rents receivable. Unfortunately, it’s not possible to set off these rental losses against other income. However, there
is something else you could do…
Published 11.09.2008