Tax help please on BTL

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    Tax help please on BTL

    Hi

    I am filing my tax return right now and have a question.

    the house i bought was purchased for letting purposes on march 2013. at that time, there is a outgoing expense paid t my solicitor as part of the deposit required plus conveyance charges. can i use this deposit amount and conveyance amounts an expense? because the house is for business purposes only and i thought the deposit to buy it, would be an expense for this investment no?

    thanks in advance
    dean

    #2
    No you can't off set these costs. When you dispose of the property the conveyancing fee's can be claimed against the capital expiture I believe.

    Comment


      #3
      No.

      The deposit is not relevant for tax purposes. And the conveyancing costs are capital, so only allowed for CGT on disposal.

      And legal costs, arrangement fees for any mortgage are allowable - but only when the property is first let.

      Comment

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