You’ve received vouchers from the government’s Green Homes Grant to go towards the cost of improving the energy efficiency of your buy-to-let property. Will you have to pay tax on this?
Published 10.02.2021
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
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
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
Your long-standing tenant has moved out of your buy-to-let property and you haven’t yet found another. You’re still incurring costs on the property but as there’s no rent coming in can you continue
to claim a tax deduction for them?
Published 27.06.2023
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
Let’s say the Taxman challenges your claim to offset initial repairs against rental income from a buy-to-let, on the grounds that this is capital expenditure. Can he do so? If so, what’s your defence
against this?
Published 01.02.2007
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
As a landlord, you’re able to offset property-related expenditure against the gross rents you receive. However, does this include the cost of any bills incurred when the property is vacant?
Published 25.05.2006
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