works on property

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  • Tipper
    replied
    Originally posted by Newbielandlord2015 View Post
    Are these works tax deductible ?
    Yes and no!

    Presumably you are setting it up to let in which case all refurb costs are deductible against capital gains tax when you eventually come to sell it.
    You cannot offset these refurb costs against your rental income only those that are running repairs during the let period.

    Leave a comment:


  • Newbielandlord2015
    started a topic works on property

    works on property

    Hi All,

    Completing on a property later on the week - 3 bed flat in Catford.

    It needs full refurbishment according to the homebuyers report and then electrical and plumber survey - New boiler/radiators, new electrics, replastering/repainting/new skirting/doors/windows and probably new kitchen/bathroom.

    Is it cheaper to get separate electrician, plumber and builders or complete refurbishment companies involved ?

    Also, there's mention of dampness in the timber housing in the reception room - I guess I need a specialist review ?

    Are these works tax deductible ?

    Thanks in advance guys ?

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